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Sears Canada to lay off 700 employees

TORONTO — Sears Canada, which has been working to turn around its business amid declining sales, said Thursday it was laying off 700 workers as part a plan to "right-size" its operation, Reuters reported.

The cuts will include 360 department store staff, about 300 distribution center workers and some head office personnel, the news service said. Company spokesman Vincent Power said the job cuts averaged about two to four people per store.

Sears Canada, which is majority owned by U.S.-based Sears Holdings, has reported sales declines, including a 5.8% same-store dip in the nine weeks ended Dec. 29. CEO Calvin McDonald has a turnaround plan, part of which involves placing an emphasis on home goods categories including mattresses, appliances and furniture.

Sears also faces expansion by competitor Walmart and the launch of Target's first Canadian stores this spring, Reuters said.

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