TARGET’S OPENING IN CANADA
Unions are angered that Target will not hire layed off employees of the stores it bought only the leases for, not the businesses, and plans to convert them to Target stores opening in March, 2013.
An estimated 27,30 are involved, 15,000 worked in the to be abandoned and converted stores.
In attendance at the union rally of 120 people outside Target HQ near Toronto, Ontario were Target Canada president Tony Fisher and CEO Greg Steinhafel.
The union wants Target to hire and respect the seniority and benefits of the laid off employees.
Target bought the leases and rights, but not businesses, for $1.8 billion from the Hudson Bay Company which has 92 stores across Canada with $4 billion annual revenue.
NRDC Equity partners bought the Canadian chain for $1.1 billion in 2008, changed its name to HBC, and plans to go public with up to 30% of the stock between October, 2012 and March, 2013.