June 8, 2017 / 8:22 PM / 2 months ago

Saks owner Hudson's Bay to cut about 2,000 jobs

June 8 (Reuters) - Canadian retailer Hudson's Bay Co , the owner of luxury department store chain Saks Fifth Avenue, said on Thursday it would cut about 2,000 positions in North America as part of a transformation plan for its operations in the region.

The company also said it formed two leadership teams to focus on Hudson's Bay in Canada and Lord & Taylor in the United States.

The company said it expects to save more than $350 million per year once the plan was fully implemented by the end of fiscal 2018.

Both the cost saving and job cuts include numbers previously announced in February, Hudson's Bay said. (Reporting by John Benny in Benglauru; Editing by Savio D'Souza)

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