HBC Cuts Jobs Across Businesses

Retail

In a cost-saving move Hudson's Bay Company is eliminating 2,000 jobs, that are expected to save the company $350 million dollars. Saks Fifth Avenue, Lord&Taylor and Gilt are affected with senior-level management positions eliminated, layoffs and demotions.

The jobs cuts are part of HBC's "Transformation Plan". TCC wonders if HBC's transformation plan is part of a larger strategy that will allow the company to acquire Neiman Marcus or if it's an indicator that the purchase is off the table. 

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