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The biggest layoffs in history

Espresso Logo By Martin Morin of Espresso | Slide 2 of 24: In August 1999, former Canadian retail giant Eaton’s faced a mountain of debt so high it was forced to throw in the towel, putting an end to its 130-year history. The 64 remaining retail stores were shut down, and 13,000 employees were laid off. In an ironic twist, Sears Canada acquired the vacant Eaton stores only to announce they were permanently closing shop in October 2017.

Eaton’s: 13,000 jobs lost

In August 1999, former Canadian retail giant Eaton’s faced a mountain of debt so high it was forced to throw in the towel, putting an end to its 130-year history. The 64 remaining retail stores were shut down, and 13,000 employees were laid off. In an ironic twist, Sears Canada acquired the vacant Eaton stores only to announce they were permanently closing shop in October 2017.

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