“The Target takeover of Zellers, which the Conservatives signed off on, is turning out to be a rip-off that is leaving Canadians out of work,” said NDP Employment Critic Jinny Sims (Newton—North Delta). “We need better protection for employee benefits and pensions in the event of bankruptcy. Workers shouldn’t lose out to lawyer fees and other creditors.”
The Target announcement comes two years after the Conservatives signed off on the takeover. In all, 133 stores across Canada will close and over 17,000 Canadians will be out of a job.
“Our economy is bleeding jobs, and the Conservatives keep pushing responsibility off to others,” said Sims. “It’s time for a government that takes responsibility and fights for Canadian jobs – and makes sure people receive adequate support if they do become unemployed.”
When it comes to approving foreign takeovers, Conservatives continue to be off-target and are failing to extract meaningful commitments to protect Canadian jobs and investment.