Are you worried about the future of The Bay?

Will The Bay go the way of other failed retailers in Montreal?

Canada's oldest retailer announced Thursday it's slashing two-thousand jobs across North America, including senior management positions.

It said the layoffs will save the company 350-million-dollars annually once fully implemented by end of fiscal 2018.

The company added it's looking to better compete in an increasingly tough retail environment.

There are concerns The Bay stores will close, including its flagship Montreal outlet on Sainte Catherine street.

"That would break my heart... I shop there whenever I get a chance, everyday, on the internet, whatever... too bad", said one woman who spoke with CTV News.

"I hope it doesn't go like Eaton's and Simpsons, but who knows, right?", said a man who also spoke with CTV.

Others say times are changing, but some companies are not.

"Thing is, it's definitely worrying in this day and age. I think they're sticking to the old models of retail business, whereas today things are done differently, it's a more open layout, open concepts, open spaces, so they need to bring in a younger look", said another man.  

 

- With files from Canadian Press