Canadian-American department store Hudson’s Bay Company will lay off 2,000 jobs as part of a major reorganisation.
The retailer, which also owns Saks Fifth Avenue, operates more than 480 stores in the US and Europe. The redundancies are taking place in the US business.
Hudson’s Bay Company governor and executive chairman Richard Baker said: “We are reallocating resources to accelerate the opportunity we see online, as we run our bricks-and-mortar operations more efficiently.
“Our team is taking the right steps to optimise our North American business and create efficiencies by leveraging the scale of our company. At this critical moment of change in the retail industry, I believe in the future of our all-channel model, and we are adapting to meet the evolving needs of our customers.”
In December Ed Burstell left Liberty of London to take up the newly-created role of head of partnerships at Hudson’s Bay Company.