Hudson’s Bay Co. is awarding up to $3 million in bonuses to executives while denying severance to more than 9,300 employees, says the Canadian Labour Congress. The union calls the move a betrayal of workers who helped build the company.
“With more than 9,300 jobs on the line, it is unacceptable that HBC is choosing to funnel up to $3 million in bonuses…while denying severance,” the CLC said in a statement released today. “This is not restructuring, it’s a betrayal. No executive should be pocketing bonuses while workers are left without a safety net.”
The union is urging Hudson’s Bay to honour its responsibilities to workers, including wages, benefits and severance, and is calling on Ottawa to ensure labour protections are enforced. It points to the federal Pension Protection Act, passed in 2023, which will not take effect until April 27, 2027.
Canada’s unions have long pushed for changes to federal laws, including the Bankruptcy and Insolvency Act and the Pension Benefits Standards Act, to prevent employees from taking a back seat to lenders and suppliers when companies file for insolvency. The CLC is also asking the government to make sure the Wage Earner Protection Program is accessible and that Employment Insurance benefits are not clawed back.
“Thousands of workers at Hudson’s Bay are facing economic uncertainty thanks to corporate greed and government weakness,” the statement said. “It’s time to put people before profit.”
