Hudson's Bay's Uncertain Future

This is a Toronto news story, published by CityNews, that relates primarily to Margaret Henry news.

Toronto news

For more Toronto news, you can click here:

more Toronto news

Margaret Henry news

For more Margaret Henry news, you can click here:

more Margaret Henry news

workforce / labor news

For more workforce / labor news, you can click here:

more workforce / labor news

CityNews news

For more news from CityNews, you can click here:

more news from CityNews

About the Otherweb

Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like workforce / labor news, you might also like this article about

Bay staff

. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest creditors news, liquidation plans news, workforce / labor news, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!

retailer

CityNews

•

Business

Business & Economics

'Everybody's scared': Hudson's Bay staff stare down possible job losses

Summary

Nutrition label

72% Informative

Staff have been told their pensions are safe, but a supplemental retirement pension plan is underfunded by millions .

Many have no idea whether they will hang onto their pensions and benefits or even receive severance.

The situation is “disappointing and embarrassing,” said Margaret Henry , who works as an e-commerce processor at the same Toronto facility.

Workers grew used to overtime being plentiful when key shopping seasons like Christmas or Bay Days came around, but something changed around Black Friday 2023 .

Hudson’s Bay owed hundreds of millions to a 26 -page list of creditors including Chanel , Columbia Sportswear and Diesel .

The company said its financial troubles were caused by decreased consumer spending and Canada - U.S. trade tensions.

VR Score

Informative language

Neutral language

Article tone

informal

Language

English

Language complexity

Offensive language

not offensive