More trouble for Sears: 640 jobs lost as company ally goes into receivership
TORONTO - A total of 640 people are out of work after a key Sears Canada ally has gone into receivership.
A spokeswoman for Pricewaterhouse Coopers Inc. says only a small number of employees at SHS Services Management Inc. will be temporarily retained to help with the receivership process.
Kiran Chauhan says the layoffs at the independent installation services company are spread across the country.
SHS is quartered in Markham, Ont.
Sears (TSX: SCC) says it will ensure that all Sears Home Services warranties are honoured.
The retailer itself announced last month that it's laying off another 800 employees across its operations in another round of major cuts.
Sears has been scaling back operations as it sees its position in the industry severely eroded.
The company has already laid off thousands of people over the past few years and the latest round will leave it with 25,000 employees across the country.
Read more Business News
- Snowmobiler dies in the KootenaysBC
- Medical marijuana bylaw moves aheadWest Kelowna - 5:00 am
- Kelowna hosting Indie Film FestivalKelowna - 5:00 am
- Sign meeting draws big crowdPenticton / S. Okanagan
|QHR Technologies Inc||1.20||-0.04|
|Anavex Life Sciences||0.47||0.00|
|Copper Mountain Mining||2.02||-0.01|
|Sunrise Resources Ltd||0.03||-0.005|
|Mission Ready Services||0.29||+0.015|
Big Picture Geopolitical risk remains at the fore; Fluid situation in Ukraine suggests need for vigilance The S&P500 remains close to a record level as better than expected February jobs data in ...
How will you pay for this today? Maybe it’s time to change the way you answer this common checkout question.With more payment options than ever, consumers can find easy ways to save money, simpl...
In the razzle dazzle of Hollywood it is hard to find anyone who stands out from the crowd. The fraternity of Actors, Producers, Directors and various other technical guru’s seem to live in a wo...