CLC statement: Hudson’s Bay hands $3M to executives and no severance to workers
Hudson’s Bay’s financial crisis cannot and must not come at the expense of its workers.
With more than 9,300 jobs on the line, it is unacceptable that HBC is choosing to funnel up to $3 million in bonuses to executives and managers while denying severance to the very workers who built the company.
Canada’s unions stand in full solidarity with HBC workers and demand that the company reverse course immediately. This is not restructuring, it’s a betrayal. No executive should be pocketing bonuses while workers are left without a safety net.
HBC must honour its responsibilities to its workers, including wages, benefits, and severance. These are not optional.
This situation is yet another example of why Canada’s unions have long advocated for changes to federal laws like the Bankruptcy and Insolvency Act and the Pension Benefits Standards Act. For decades, we have fought to protect workers and ensure that they are not left at the back of the line when companies go bankrupt, forcing them to wait behind lenders, suppliers, and tax collectors for the wages, severance, and pensions they are entitled to. In 2023, following years of advocacy, the federal government successfully passed the Pension Protection Act, a crucial step forward. However, these vital protections will not come into effect until April 27, 2027.
We also call on the federal government to ensure that no worker falls through the cracks and that programs like the Wage Earner Protection Program are accessible without delay, and that no Employment Insurance benefits are clawed back in this process.
Make no mistake: thousands of workers at Hudson’s Bay are facing economic uncertainty thanks to corporate greed and government weakness. Every leader in this election must be asked what they will do to strengthen protections for workers and their livelihoods. Workers deserve respect, security, and the dignity of knowing they won’t be abandoned in a difficult economy.
Canada’s unions are watching closely. Hudson’s Bay must act with integrity. It’s time to put people before profit.
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