By early next year, Sears will disappear from malls across Canada.
As recently as 2009, the number of department store employees topped 150,000 nationwide, according to Statistics Canada data. Since then, employment has tumbled nearly 30 per cent.
In addition to the roughly 2,900 Sears Canada employees already let go, the company stands to put the rest of its 12,000 workers out on the streets. No plans for severance payments have been disclosed.
The federal government has instructed the Canada Revenue Agency to remove a controversial tax policy interpretation that would have seen employees (Canadian Business)
Discount chain celebrated its high-tech facility with a family-friendly event
Sears’s impending store liquidations come while some landlords are still struggling to find tenants to replace U.S. discount chain Target Corp., which shut all of its 133 stores in this country in 2015 (Marina Strauss/Globe & Mail).