Wednesday, November 26th0.1°C
22246
24056

Sears lays off 700 workers

Sears Canada (TSX:SCC) announced Thursday it is laying off 700 workers across the country as part of a move to "right-size" the company and focus on restructuring its business.

The national retailer says 360 people are being laid off from its department stores and about 300 from its distribution centres. The remaining workers are being let go from head office and other support areas.

The job cuts will be across Canada.

"This is part of our initiative to right-size the organization, which is working in concert with other initiatives to make Sears successful," said Sears spokesman Vince Power in a statement.

The city of Belleville in eastern Ontario, where Sears has a distribution centre that deals with small-ticket catalogue and online sales, will lose 120 jobs, the largest single cut in the current round of downsizing.

A distribution centre in Regina, which also deals primarily in smaller items for western customers, will lose 80 jobs. There will be smaller job losses at distribution centres in the Toronto and Montreal areas, which deal more with larger items, and at two small distribution centres in Calgary and Vancouver.

By contrast, the job losses at Sears retail operations will be smaller, in the range of two to four people per store.

At the Sears department store in Kelowna two employees at the management level were laid off Thursday.

Power said the distribution centres are feeling a bigger impact because "over time we've been able to improve some processes, so we're able to do more in the distribution centres."

"And also we didn't want to affect customer service in the stores."

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).

In a report assessing the impact of Target's arrival, released last fall, Barclays Capital said that Sears Canada, Walmart, Old Navy, Loblaw's Joe Fresh brand and Canadian Tire are the retailers most at risk.

The company has 195 corporate stores, 269 hometown dealer stores, eight home services show rooms and more than 1,500 merchandise pick-up locations.

The Canadian Press


Read more Business News

23015


Recent Trending




Today's Market
S&P TSX15073.65+58.24
S&P CDNX780.64-6.86
DJIA17814.94-2.96
Nasdaq4758.252+3.36
S&P 5002067.03-2.38
CDN Dollar0.8877-0.0007
Gold1198.80+1.7001
Oil73.90-0.19
Lumber328.80-0.70
Natural Gas4.295+0.144

 
Okanagan Companies
Pacific Safety0.16-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.32+0.04
Cantex0.040.00
Anavex Life Sciences0.175-0.005
Metalex Ventures0.030.00
Russel Metals32.14+0.65
Copper Mountain Mining2.15-0.02
Colorado Resources0.130.00
ReliaBrand Inc0.0134-0.0001
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.325-0.04

 
23744




FEATURED Property
2101408950/952 Mitchell Road
7 bedrooms 4 baths
$519,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


The last great Canadian tax shelter

A guide to how flow-through fund limited partnerships can mightily aid your tax planning!The end of the year will raise concerns among many professionals, self-employed persons, business owners and ev...


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...


Retirement: Health Issues

Our health is really our greatest asset and maintaining our health is of tremendous importance. You want to do what you can to ensure that health issues will not jeopardize the enjoyment of your retir...

_



24231

24207


Member of BC Press Council


22632