Hudson’s Bay To Slash 89% Of Staff In Wind-Down After Buyer Search Fails

Canada's Hudson's Bay Co. will lay off 8,347 employees, or 89% of its workforce, by the end of this week, Reuters reported, citing court documents.

The retail chain, one of the region's oldest companies, filed for the equivalent of bankruptcy protection in March. 

It said the Trump administration's tariff policy and a challenging post-pandemic consumer environment have contributed to the company’s struggles.

Hudson's Bay (HBC) said at the time that it would liquidate all its stores unless an alternative solution was found after initiating restructuring proceedings earlier in the month.

The company failed to find a buyer. Earlier this month, Canadian Tire agreed to buy some of Hudson's Bay's intellectual property and branding for $30 million.

Before the liquidation, Hudson's Bay employed 9,634 people in its 96 stores, four distribution centers, and the corporate office.

The move is one of the most significant retrenchment drives in Canada, second only to the 12,000 job losses caused by Sears Canada's closure in 2018.

The layoffs come amid growing unemployment in Canada, which reached 6.9% in April, the highest level since November, driven in part by U.S. tariffs that are impacting the export-reliant economy.

Hudson's Bay grew from a 17th-century fur trading company into a major Canadian retail chain. In recent years, it has struggled with declining sales, store closures, and changing consumer habits.

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