Jobs cut as HBC establishes Saks Global after Neiman Marcus acquisition | Canada News Media
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Jobs cut as HBC establishes Saks Global after Neiman Marcus acquisition

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TORONTO – Jobs are being cut as Hudson’s Bay Co. spins out some of its brands into a new entity called Saks Global.

A Saks Global spokesperson says operational functions from across the businesses are being brought under one leadership team.

The spokesperson did not say how many people would be affected by the layoffs.

The creation of Saks Global was part of HBC’s US$2.65-billion acquisition of American department store chain Neiman Marcus, announced earlier in July.

Under the deal, Toronto-based HBC will group Neiman Marcus Group’s banners in a new business alongside Saks Fifth Avenue and Saks Off 5th, which it has owned since 2013.

HBC has conducted several rounds of layoffs over the past few years as it navigated headwinds in the retail industry.

This report by The Canadian Press was first published July 25, 2024.

The Canadian Press. All rights reserved.

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Penguins re-sign Crosby to two-year extension that runs through 2026-27 season

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PITTSBURGH – Sidney Crosby plans to remain a Pittsburgh Penguin for at least three more years.

The Penguins announced on Monday that they re-signed the 37-year-old from Cole Harbour, N.S., to a two-year contract extension that has an average annual value of US$8.7 million. The deal runs through the 2026-27 season.

Crosby was eligible to sign an extension on July 1 with him entering the final season of a 12-year, $104.4-million deal that carries an $8.7-million salary cap hit.

At the NHL/NHLPA player media tour in Las Vegas last Monday, he said things were positive and he was optimistic about a deal getting done.

The three-time Stanley Cup champion is coming off a 42-goal, 94-point campaign that saw him finish tied for 12th in the league scoring race.

Crosby has spent all 19 of his NHL seasons in Pittsburgh, amassing 592 goals and 1,004 assists in 1,272 career games.

This report by The Canadian Press was first published Sept. 16, 2024.

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B.C. commits to earlier, enhanced pensions for wildland firefighters

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VICTORIA – British Columbia Premier David Eby has announced his government has committed to earlier and enhanced pensions for wildland firefighters, saying the province owes them a “deep debt of gratitude” for their efforts in battling recent fire seasons.

Eby says in a statement the province and the BC General Employees’ Union have reached an agreement-in-principle to “enhance” pensions for firefighting personnel employed directly by the BC Wildfire Service.

It says the change will give wildland firefighters provisions like those in other public-safety careers such as ambulance paramedics and corrections workers.

The statement says wildfire personnel could receive their earliest pensions up to five years before regular members of the public service pension plan.

The province and the union are aiming to finalize the agreement early next year with changes taking effect in 2026, and while eligibility requirements are yet to be confirmed, the statement says the “majority” of workers at the BC Wildfire Service would qualify.

Union president Paul Finch says wildfire fighters “take immense risks and deserve fair compensation,” and the pension announcement marks a “major victory.”

“This change will help retain a stable, experienced workforce, ready to protect our communities when we need them most,” Finch says in the statement.

About 1,300 firefighters were employed directly by the wildfire service this year. B.C. has increased the service’s permanent full-time staff by 55 per cent since 2022.

About 350 firefighting personnel continue to battle more than 200 active blazes across the province, with 60 per cent of them now classified as under control.

This report by The Canadian Press was first published Sept. 16, 2024.

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AtkinsRéalis signs deal to help modernize U.K. rail signalling system

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MONTREAL – AtkinsRéalis Group Inc. says it has signed a deal with U.K. rail infrastructure owner Network Rail to help upgrade and digitize its signalling over the next 10 years.

Network Rail has launched a four-billlion pound program to upgrade signalling across its network over the coming decade.

The company says the modernization will bring greater reliability across the country through a mixture of traditional signalling and digital control.

AtkinsRéalis says it has secured two of the eight contracts awarded.

The Canadian company formerly known as SNC-Lavalin will work independently on conventional signalling contract.

AtkinsRéalis will also partner with Construcciones y Auxiliar de Ferrocarriles, S.A.(CAF) in a new joint venture on a digital signalling contract.

This report by The Canadian Press was first published Sept. 16, 2024.

Companies in this story: (TSX:ATRL)

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