Sears Canada announced Thursday it is laying off 700 workers — the majority from their department stores.
The retailer says 360 people are being laid off from its department stores and about 300 from distribution centres.
The remaining workers are being let go from head office and other support areas.
In a statement, Sears says the move is part of an initiative to restructure its business model.
The job cuts will be across Canada.
Sears Canada has been revamping operations to encourage more customers to return to its stores after years of declining sales, and also to prepare for the entry of numerous U.S. retailers, including discount chain Target.
Earlier this month, Sears had announced it was teaming up with the Aldo Group to design and manufacture footwear lines for their Nevada, Attitude and Jessica brands.
The company has 195 corporate stores, 269 hometown dealer stores, eight home services show rooms and more than 1,500 merchandise pick-up locations.
There are also reports Best Buy Canada has closed at least two stores in Quebec and will shut down more of its big-box electronics outlets across the country.
Employees at the store in Sherbrooke got no notice of the closure and showed up for work, The Canadian Press has learned.
Contact information for that store and another in Lachenaie, near Montreal, has been taken off the Best Buy Canada website.
Calls to the company’s headquarters in Burnaby, B.C., weren’t immediately returned.