Sears Canada is inviting Target employees to apply for open jobs at Sears Canada stores. The company is also offering for a limited time the same employee discount that its own workers get to laid-off Target employees.
Last week, Target said it would shutter its 133 stores in Canada and liquidate its operations there after racking up losses in the area of $2 billion in under two years. About 17,600 workers were affected. The stores will close in May.
"In recognition of the challenging retail landscape and yesterday's announcement regarding the exit of Target from the Canadian market, Sears Canada wishes to do something meaningful to help employees affected by store closings and job losses and to do so in a respectful manner," Sears Canada said in a statement.
Target Canada employees are being encouraged to visit Sears Canada Careers site to look for jobs and find information on local job fairs and other career events. An open invitation to Target Canada head office employees for a meet-and-greet with Sears executives and human resources experts was also set for Jan. 21 at the Sears head office located at the Toronto Eaton Centre.
"To help employees during this time of uncertainty," Sears Canada will also offer affected Target Canada employees the Sears Canada employee discount for a period of 16 weeks. This discount is 25 percent on soft goods and 15 percent on hard goods and applies to both regular and sale prices with some exceptions.
In an interview with BNN (Business News Network), Ronald Boire, Sears Canada's acting president and CEO, criticized Target for not tailoring assortments to local interests. He said, "You can't just cookie cutter a strategy into the market and have it play out the way you want."
Sears Canada, which is being spun off from Sears Holdings, has also struggled up north for many years. In November, the company reported same-store sales fell 9.5 percent for the third quarter while posting a wider loss.
Although Target was apparently not compelled to do so since it filed for the Canadian equivalency of bankruptcy protection to enact the store closures, the company took the unusual step of creating a $70-million fund to pay most employees a minimum of 16 weeks severance.
- Sears Canada Extends Special Offer to Employees Affected by Target Announcement - Sears Canada
- Sears Canada Offers Target Canada's Workers Discounts, Invites Them to Apply for Jobs - Wall Street Journal
- Target Canada workers being offered Sears jobs - CBC
- Sears Canada CEO knocks Target's 'cookie cutter' strategy - BNN