Canada's Hudson's Bay retail chain to terminate more than 8,300 workers by Sunday
Reuters3 days
Hudson's Bay to Cut Over 8,300 Jobs by June 1
Above: A plaque displaying the coat of arms of the Hudson's Bay Company outside its store in Toronto, Canada, on April 5, 2025. Image copyright: Mike Campbell/NurPhoto via Getty Images
The Spin
Narrative A
It's deeply regrettable that the Hudson's Bay Company, a staple of Canadian history, has to be liquidated. However, because of rising debts, dwindling revenues, and fierce competition from digital platforms, HBC was no longer viable as a business. Despite this, the company is doing everything it can to protect its workforce from seeking a court order triggering their Wage Earner Protection Program rights to possibly establishing a hardship fund.
Narrative B
When corporations make blunders, it is always the workforce that pays for it, and the case of the Hudson’s Bay Company is no different. Thousands of workers have been terminated without severance, and the Wage Earner Protection Program benefits they find themselves relying on are insufficient to compensate for lost wages and benefits. The federal government must respond through urgent insolvency reforms to prevent injustices like this from occurring.