Hudson's Bay is starting a "rationalisation" process announced in February. Some 2000 positions will be eliminated, including some at senior staff level. According to HBC, its "Transformation Plan" will realise more than $350 million in annual savings when it is fully implemented by end 2018. In the meantime, $170 m will be saved in the 2017 fiscal year. Among other things, there will be two leadership teams, one focused on Hudson's Bay in Canada, and another to accelerate growth at Lord & Taylor. Alison Colville will be president of Hudson's Bay while Liz Rodbell, who previously managed both, will focus on Lord & Taylor. Also digital functions will be coordinated across the company. During the last fiscal year, consolidated comparable sales decreased overall by 1.7% and overall net loss was $221 m versus $97 m the year before.

see article