News

Sears Canada Cuts 1,200 Jobs

BY CSA STAFF

Toronto, Sears Canada Inc. is cutting 1,200 jobs as part of its promise to improve the productivity of its operations. According to company spokesman Vincent Power, the layoffs, which span the entire country, were the result of a business-by-business review the retailer announced in September. Power said that with the recent sale of Sears’ credit division, the priority is firmly on merchandising.

“We want to have a cost structure that’s competitive with other retailers in the Canadian marketplace,” Power said.

About one-third of the reductions are managerial and support staff from the chain’s 122 full-line stores and 50 Sears Home stores. The balance of the cuts will come from various areas, including logistics, buying and administrative. Front-line sales staff was virtually untouched.

Sears Canada had disclosed last month that it would take a C$70 million ($60.3 million) charge in the fourth quarter as part of its productivity-related initiatives. Most industry-watchers believe Sears Holdings Corp., which owns 54% of Sears Canada, has initiated the sale of the credit-card division and staff reductions in an effort to surface value in the Canadian division.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Retailers Eye World Trade Center Site

BY CSA STAFF

New York City, With designs for the new buildings already in motion, the next step in reconstructing the World Trade Center will be the entrance of retailers along Church Street.

Port Authority executive director Kenneth Ringler said that over the next several weeks, prospective developers would be able to pitch their plans. The Port Authority, owners of the 16-acre WTC area, will develop 200,000 sq. ft. of retail space on its own, and the Church Street side of the site will allow for another 300,000 sq. ft. of retail property.

The original World Trade Center included a 600,000-sq.-ft. shopping area.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Peet’s Coffee & Tea Names CMO

BY CSA STAFF

Berkeley, Calif., Specialty coffee roaster and retailer Peet’s has tapped Christine Lansing for its chief marketing officer position. Most recently she was VP of marketing and global innovation for The Hershey Company.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...