Hudson’s Bay will lay off 265 mostly office employees in the U.S. and in Toronto. Spokeswoman Tiffany Bourre said the cuts will be centred at the company’s U.S offices where it acquired American luxury retailer Saks International in 2013. The affected cities include New York, St. Louis, Jackson, Mississippi, Aberdeen in Washington state and some others. The company said the layoffs are linked to cost savings it has discovered over the past two years after integrating Saks’s operations. The company will take a $20-million charge in the third quarter related to the restructuring and said the layoffs and other actions should save it around $75 million in 2016.Hudson’s Bay said it has hired 2,000 new employees since the takeover of Saks and plans to add more as it opens seven new locations under the Saks brands next year. The company’s brands include Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue, Saks off Fifth, and Home Outfitters.
