Sears Canada to lay off nearly 800 staff

Over 700 positions will be eliminated in the repair parts and services department, while nearly 80 employees will be laid off at the company's headquarters in Toronto

Sears Canada is laying off nearly 800 employees across its operations as it moves ahead with a multi-year plan to reduce operating costs. Over 700 positions will be eliminated in the repair parts and services department, while nearly 80 employees will be laid off at the company's headquarters in Toronto. Layoffs will take place over the next six months.

The move comes as the retailer looks for more ways to improve its financial results after having earlier sold several department store leases in the face of heightened competition.    

Earlier this month, Sears Canada posted an enlarged net loss of $48.8 million or 48 cents per share - mainly due to severance and restructuring costs. The company said the net loss included $20.2 million for severance, and that filtering out the extra costs it would have reported a profit.    

Sears has already closed some of its big city locations in Western Canada and has announced plans to vacate other large stores, including its flagship downtown Toronto location.    

The company still has more than 100 stores as well as an online and catalogue business.

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  1. Jack posted on 11/26/2013 06:17 PM
    I'm curious to find out what will fill the multi-level space Sears will leave behind when they clear out of the Eaton's Centre. My guess is they'll remodel the space to hold multiple smaller stores; I can't exactly see a four- or five-storey WalMart coming in.
    1. Frankie posted on 11/27/2013 09:23 AM
      @Jack Nordstrom is moving into several of their spaces, perhaps including Eaton Centre
  2. maryk_8437 posted on 12/25/2013 02:16 AM
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  3. Lynda Roden posted on 01/20/2014 01:31 PM
    One of the best things Sears could do is limit the amount of merchandise(Ladies Wear)they have in the retail stores.There is far too much inventory!.The low end products do not sell and will finally end up sitting on a sales rack in the middle of the aisles.I find it tiresome to go through the racks to find something I would consider buying..This low end merchandise is of the Walmart quality..If we want that type of merchandise we can buy at Walmart prices...
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