Sears Canada to axe nearly 800 jobs

People walk past the main Sears store in downtown Vancouver, British Columbia, on 23 February 2011  Sears Canada has announced hundreds of layoffs in an effort to improve profitability, the company announced (file photo)

Retail chain Sears Canada has announced it is laying off nearly 800 employees, as it fights to compete with rivals like Nordstrom.

The redundancies announced on Tuesday will affect 712 staff in repair services and 79 at head office.

The company also expects to contract from 118 stores to 111 by 2015.

The layoffs will occur over the next six months and are "designed to improve efficiency, profitability and overall customer experience", the firm said.

Sears Canada, which currently has 25,000 employees, has also agreed to sell leases back to landlords for hundreds of millions of dollars as it struggles to raise cash and sell off assets, according to media reports.

More on This Story

More US & Canada stories

RSS

Features & Analysis

Elsewhere on the BBC

  • Van DammeA-list adverts

    BBC Autos takes a look at some of the most curious and courageous link-ups in car-advert history

Programmes

  • Bitcoin logoClick Watch

    The developer behind the new Bitcoin tech on the fears it will hide criminal activity

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.