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North American stock indexes staged a sharp turnaround Monday after President Trump suggested the war with Iran could be nearing its end, easing investor fears and lifting major benchmarks into positive territory.  Markets Snap Back Into the Green U.S. markets recovered from steep early losses, with the Nasdaq Composite climbing over 1.5% , leading the rebound. The Dow Jones Industrial Average jumped 0.7% , reversing a drop of more than 800 points earlier in the session. The S&P 500 gained 0.9% , also turning positive by afternoon trading.  Oil Prices Ease After Surging Crude oil, which had earlier spiked above $100 per barrel amid conflict-driven supply fears, pulled back following Trump’s remarks that the U.S. was “very far” ahead of its 4–5 week timeline for ending the war. Canadian Markets Follow the Uptrend Canada’s TSX Composite Index rose 0.32% , supported by gains in major energy names such as Suncor and Canadian Natural Resources.  What’s Driving ...
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Hudson's Bay Faces Corporate Layoffs Amid Liquidation Process

 

Hudson's Bay Company (HBC), Canada's oldest retailer, has announced the termination of nearly 200 corporate employees as part of its ongoing restructuring efforts. The layoffs, effective April 4, mark the first wave of job losses as the company moves forward with plans to liquidate the majority of its stores across Canada.

Earlier this month, HBC filed for creditor protection under the Companies' Creditors Arrangement Act, citing financial struggles and subdued consumer spending. The company has since begun liquidation sales in 73 of its 80 Hudson's Bay locations, along with several Saks Fifth Avenue and Saks OFF 5TH stores.

Despite the corporate layoffs, store employees are being retained to manage clearance events, and both physical stores and the company's e-commerce platform remain operational. Hudson's Bay employed approximately 9,364 workers across Canada as of February 28, with 520 classified as corporate staff.

"This is a difficult reality of the restructuring process, and we are committed to treating associates impacted by these changes with respect and support," said Tiffany Bourré, spokesperson for HBC.

The liquidation process is expected to last until mid-June, significantly reducing the company's workforce and marking a challenging chapter in its storied history.

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