Sears lays off 700 workers, majority from department stores | iNFOnews | Thompson-Okanagan's News Source

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Sears lays off 700 workers, majority from department stores

People wait for Sears to open in downtown Vancouver, Friday, September 21, 2012. 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 CANADIAN PRESS/Jonathan Hayward

TORONTO - Sears Canada announced today it is laying off 700 workers — the majority from their department stores.

The retailer says 360 people are being laid off from its department stores and about 300 from distribution centres.

The remaining workers are being let go from head office and other support areas.

In a statement, Sears says the move is part of an initiative to restructure its business model.

The job cuts will be across Canada.

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).

Earlier this month, Sears had announced it was teaming up with the Aldo Group to design and manufacture footwear lines for their Nevada, Attitude and Jessica brands.

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

News from © The Canadian Press, 2013
The Canadian Press

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