June 8 Canadian retailer Hudson's Bay Co
, the owner of luxury department store chain Saks Fifth
Avenue, said on Thursday it would cut about 2,000 positions in
North America as part of a transformation plan for its
operations in the region.
The company also said it formed two leadership teams to
focus on Hudson's Bay in Canada and Lord & Taylor in the United
The company said it expects to save more than $350 million
per year once the plan was fully implemented by the end of
Both the cost saving and job cuts include numbers previously
announced in February, Hudson's Bay said.
(Reporting by John Benny in Benglauru; Editing by Savio