NEW YORK, United States In February 2017, department store conglomerate Hudsons Bay Company (HBC) announced that it would reduce expenses by rationalising its corporate functions and overhead across North America. That means major layoffs: A restructuring of the organisation that would result in an estimated $30 million in severance-related charges.
On Thursday, those layoffs occurred, BoF has learned. Senior-level staff at Saks Fifth Avenue including senior vice president of digital retail Joe Milano Gilt Groupe and Lord & Taylor were asked to leave in an effort to flatten the organisations hierarchy. Several members of the buying team were also let go, and some staff were given demotions. Accor…
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