Canadian retailer Hudson's Bay says it plans to layoff 250 workers in corporate roles as it looks to lessen expenses amid a slowing economy.
This is the second round of layoffs at the privately held company this year. Since January, Hudson’s Bay has announced a total of 500 job cuts across its operations.
The company stressed that none of the 2023 job losses have impacted retail workers at Hudson's Bay's 84 department stores across Canada.
Hudson’s Bay said that economic pressures in the retail industry have continued longer than anticipated, making the workforce reduction necessary.
In January 2021, Hudson's Bay cut 600 workers throughout Canada due to extended Covid-19 lockdowns that shuttered many of its retail outlets for several months at a time.
Hudson’s Bay is owned by NRDC Equity Partners, an American private investment firm that is focused on retail businesses and consumer brands