Jobs cut as HBC establishes Saks Global after Neiman Marcus acquisition

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

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.Small caps jumped as the Nasdaq and Nvidia fight AI fatigue. ServiceNow broke out. The Fed's key inflation gauge is due.

Industry experts to discuss ways we can achieve net-zero in the world of global manufacturing UTSScience_Algae_Tubular_Bioreactor_Tanks UTS Science explores ways to reduce carbon emissions using algae bioreactors. Photo by Anna Zhu.

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