Sears Canada cuts about 300 workers

Sears Canada said that it has cut about 300 workers across the country, as it struggles with falling consumer confidence and braces for weaker sales. Canada's second-biggest department store chain said half of the layoffs would be in its Toronto headquarters with the remainder in its repair services across the country. The 300 jobs represent less than 1% of the company's total workforce of 35,000 people. "It's public knowledge that 2009 looks like it is going to be a tough year in a tough economic climate and we are just preparing for that," said Sears Canada spokesman Vince Power.

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