Dive Summary:

• Sears Canada will lay off 800 company employees as part of a restructuring plan aimed at reducing operating costs.
• Nearly 80 office employees will be affected at the company headquarters in Toronto, with the majority of the layoffs affecting its repair service and parts business.
• Sears Canada recently began a strategic initiative to boost its financial results and has already shuttered several locations in western Canada.

Dive Insight:

According to recent reports, Eddie Lampert, the chairman of Sears Canada, could be exploring a possible sale of the retail company following the closing of five Sears Canada locations – including its flagship in Toronto. Sears Canada currently employs roughly 33,000 people throughout the country.