Sunday, January 25th4.7°C
24624
23931

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

23967


Recent Trending




Today's Market
S&P TSX14779.35+15.369
S&P CDNX678.18-0.79
DJIA17672.60-141.38
Nasdaq4757.879+7.481
S&P 5002051.82-11.33
CDN Dollar0.8034-0.0016
Gold1292.60-2.00
Oil46.35-2.34
Lumber311.50+6.50
Natural Gas2.986+0.132

 
Okanagan Companies
Pacific Safety0.115-0.005
Knighthawk0.010.00
QHR Technologies Inc1.38+0.06
Cantex0.035+0.005
Anavex Life Sciences0.1810.00
Metalex Ventures0.040.00
Russel Metals24.48+0.32
Copper Mountain Mining1.10-0.02
Colorado Resources0.155+0.005
ReliaBrand Inc0.006+0.001
Sunrise Resources Ltd0.055+0.03
Mission Ready Services0.22+0.02

 



24153

FEATURED Property
2125854278 Upper Canyon Drive
4 bedrooms 3 baths
$679,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


How to price: workbook approach

In 2008 Self Counsel Press published my book - Pricing Strategies for Small Business. The book is now available in Europe, India, Russia and the United States. The purpose of the book was to make avai...


Ailing Parents: Tax Issues

If your parent has become ill, there can be several tax issues that come into play depending on the nature of their illness, their age and the role that family members are playing. For example, if you...


What do I pay ICBC for anyway?

If you have had ongoing dealings with ICBC as a result of a car accident than you have likely had the pleasure of dealing with at least two sides of ICBC. Initially the relationship starts off pleasan...

_



24709




Member of BC Press Council


23646