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Hudson’s Bay Co. Restructures

Roughly 2000 employees were laid off

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Hudson's Bay Co. (Toronto), which owns New York-based Saks Fifth Avenue and Lord & Taylor, has laid off 2000 employees, or 4 percent of its staff, in a restructuring.

Eric Jennings, Saks Fifth Avenue's vp of men’s, home, gifts and beauty, was among those who lost their position, reports Women’s Wear Daily, as was Suzanne Timmins, senior vp and fashion director of Hudson’s Bay. Taking their place is Roopal Patel, fashion director for Saks Fifth Avenue, who will now oversee all categories for the Hudson's Bay Co. stores in North America.

The restructuring is expected to save Hudson's Bay Co. more than $259 million by the end of fiscal year 2018.

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