Hudson's Bay eliminates 825 management, administrative positions

Yesterday, department store chain Hudson's Bay Co., Toronto, announced the elimination of approximately 825 management and administrative positions from across the company, and the realignment of the company's senior leadership. "We have simplified our operations and we are harvesting the benefits of completing the integration of all remaining Hbc functions," said George Heller, president and CEO, in a statement. "With the transition to a single company operation completed and tested, we are now positioned to scale back our infrastructure without impeding our growth plans.We expect this, and other non personnel initiatives, will save the company between $40 to $45 million on annual basis." For the past five years, Hudson's Bay has been pursuing a growth strategy that is based on a single company view of the marketplace, supported by increasingly more integrated and efficient operations.The realignment of the company's senior management team and elimination of approximately 825 positions are the result of the transition to a single company operation; at the same time the company continues to invest in new growth vehicles.

The changes related to the realignment of Hbc's senior management team include:
Michael Rousseau, executive vice president and CFO, will assume leadership of the company's Credit and Loyalty operations, in addition to his responsibility for the management of the Information Services division.

Marc Chouinard, currently the president of the Hudson Bay's Merchandising Group will assume the new role of COO, which includes responsibilities for the company's merchandising, marketing and store operations.

Thomas Haig will assume a new role, as executive vice president assigned to the Office of the CEO.