A Popular Department Store Now Announces Unexpected Layoffs

May 2, 2024

A popular department store now announces unexpected layoffs as it seeks to downsize, part of an organizational “re-alignment”.

Canadian department store Hudson’s Bay is downsizing as part of an organizational “re-alignment” driven by the challenged retail environment in the country, a spokesperson confirmed by email.

The layoffs impact “less than 1% of our workforce,” the spokesperson said.

“The retail sector in Canada continues to experience pressures, and we are right-sizing our organization to ensure the long-term success of our business,” the spokesperson also said.

“While necessary, these are difficult decisions and we are committed to fairness and respect as we support our associates impacted by these changes.”

The reorganization affects the retailer as a whole, which as of 2022 is once again operating both e-commerce and physical stores as one entity, the spokesperson said.

That is a turnabout from 2021 when parent company HBC announced that Hudson’s Bay would “separate its store fleet and e-commerce business into two separate businesses, accelerating its digital-first transformation”, reports Retail Dive.

For that year or so, the online business had operated as “The Bay,” responsible not just for digital retail sales, including via a third-party marketplace, but also brand direction, marketing, buying, planning and technology for itself and the physical-store operations.

The company didn’t respond to email and phone requests for more details about why Hudson’s Bay has re-merged its operations.

On Wednesday, HBC’s spokesperson confirmed that Saks Fifth Avenue and off-price Saks Off 5th, whose separations were enabled by hundreds of millions in private equity investments, each still run different companies for their e-commerce and their stores.

In January 2023, all three HBC e-retailers — The Bay, Saks.com and Saksoff5th.com — confirmed rounds of layoffs, joining several other tech-oriented companies in downsizing around that time.

For more news and updates like this, opt-in for push notifications.

Also Read: A Massive Grocery Chain With 400 Stores Is Now Closing

Other Economy News Today

A popular Italian restaurant now announces an unexpected closure after nine years in business, according to an email sent to customers.

Italian Eatery, located in south Minneapolis, Minnesota, told its long-time customers that it planned to shut its doors.

The beloved restaurant, also known as ie, also plans to close its sister restaurant un dito, known for its Sicilian seaside street food, per The US Sun.

They have not announced a closing date but are expected to close between late May and mid-June, according to Bring Me The News.

“As we prepare to close our doors at ie and un dito, we’d like to extend a heartfelt invitation for you to join us for our final months of service,” an email to customers from Carrara $ Co. read.

“Gather with us at the table and let us reminisce over the incredible memories we’ve created together and cherish the moments shared over the past nine years.”

Italian Eatery has been a popular spot since its opening in 2016 and is known for its full-service drinks and dining near Lake Nokomis.

Un dito is a 400-square-foot space that specializes in sips and snacks or afternoon gatherings like you would see in Italy, according to its website.

The restaurant’s “Last Supper” reservations will be released every week and shared in weekly newsletters, according to its website.

“As always, we will continue to reserve walk-in tables at both ie + un dito for our beloved neighborhood,” the announcement read, according to the outlet.

Carrara & Co. also owns due, a focacceria and Italian market in St. Paul, Minnesota that the company calls “Italian Eatery’s spawn, aka quirky little brother,” according to its website.

Despite the Minneapolis closures, due will remain open.

“I’m pleased to inform you that all other Carrara & Co operations remain unaffected, including Due Focacceria, and we are even expanding our services,” according to a statement, reported by NBC affiliate KARE.

For more news and updates like this, opt-in for push notifications.

Also Read: A Massive Grocery Brand Now Files For Chapter 11 Bankruptcy

Market News Published Daily 📰

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.

More Market News 📰