TORONTO – Sears Canada announced today it is laying off 700 workers — the majority from their department stores.
The retailer says 360 people are being laid off from its department stores and about 300 from distribution centres.
The remaining workers are being let go from head office and other support areas.
In a statement, Sears says the move is part of an initiative to restructure its business model.
The job cuts will be across Canada.
Sears Canada has been revamping operations to encourage more customers to return to its stores after years of declining sales, and also to prepare for the entry of numerous U.S. retailers, including discount chain Target (NYSE:TGT).
Earlier this month, Sears had announced it was teaming up with the Aldo Group to design and manufacture footwear lines for their Nevada, Attitude and Jessica brands.
The company has 195 corporate stores, 269 hometown dealer stores, eight home services show rooms and more than 1,500 merchandise pick-up locations.
Thursday, January 31, 2013