Canadians are persevering with to be laid off as a part of a wave of job cuts that started in 2023 as firms assessed their operations after the peak of the COVID-19 pandemic handed. Tech firms, retailers and extra have all begun shedding members of their workforce in a bid to navigate the financial downturn.
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Firms in Canada shedding staff in 2024
These are a number of the firms which have to this point laid off Canadian employees in 2024:
- BCE Inc.: The Montreal-based telecommunications big mentioned on Feb. 8 it was slicing 4,800 jobs “in any respect ranges of the corporate,” though a number of the job losses have been to return from vacancies and pure attrition relatively than layoffs.
- BenchSci: The Toronto-based synthetic intelligence startup let go of an unspecified variety of employees in January due to “financial atmosphere, operational efficiencies, and adaptation to technological developments, particularly generative AI.”
- BlackBerry Ltd.: The Waterloo, Ont.-based expertise firm introduced plans to chop an unspecified variety of jobs on Feb. 12 because it labored to separate two of its enterprise divisions.
- The Physique Store Canada Ltd.: Courtroom paperwork confirmed the subsidiary of the worldwide cosmetics retailer deliberate to put off about 200 employees in March because it sought creditor safety and closed 33 shops. The filings additionally revealed 20 head workplace staff and two contractors had just lately been minimize.
- Canada Goose Holdings Inc.: The Toronto-based luxurious attire maker mentioned in March that it was shedding 17% of its international company workforce to place the corporate “in a greater place for scaling.”
- Cascades Inc.: The paper and packing firm mentioned on Feb. 13 that it was closing three crops in a transfer that will have an effect on 310 staff.
- Corus Leisure Inc.: The broadcaster confirmed in February that it laid off an unspecified variety of employees throughout a number of stations.
- CPA Canada: Chartered Skilled Accountants of Canada mentioned on Feb. 12 that it was slicing 20% of its workforce forward of a transfer by provincial oversight our bodies in Ontario and Quebec to separate from the nationwide group.
- Dorel Industries Inc.: The maker of youngsters’s merchandise and residential furnishings revealed in March that it beforehand laid off 40 staff.
- Enbridge Inc.: The Calgary-based pipeline big introduced plans to chop 650 positions over the course of February, citing “more and more difficult” enterprise situations together with increased rates of interest, financial uncertainty and the ripple results of geopolitical developments.
- Manufacturing unit Direct: The Vaughan, Ont. electronics and residential good retailer mentioned in court docket paperwork filed in February that it could terminate 200 staff as the corporate winds down.
- Google: The tech big kicked off the 12 months by trimming its workforce, leaving a whole lot of its workers with out jobs. Dan Raile, a spokesperson for the Alphabet Employees Union — Communication Employees of America union, mentioned a number of the departing workers have been positioned in Canada.
- Groupe Juste pour rire Inc.: The corporate behind the annual Montreal comedy competition introduced in early March that it could minimize 75 employees because the group sought creditor safety.
- Hudson’s Bay Co.: The division retailer chain minimize fewer than 100 individuals, representing lower than 1% of its workforce on April 30.
- Indigo Books & Music Inc.: The retailer laid off an unspecified variety of workers in January as a part of its ongoing efforts to streamline its operations following losses, a cyberattack and management modifications. The corporate agreed to be bought and brought personal in April.
- Laurentian Financial institution: The Montreal-based financial institution confirmed on Might 16 it was slicing about 2% of its workers, figuring out to round 60 positions, as it really works via a turnaround plan.
- Lightspeed Commerce Inc.: The Montreal-based expertise firm mentioned on April 3 that it was slicing about 280 jobs because it moved to give attention to worthwhile progress.
- Lion Electrical Co.: The electrical bus firm introduced on Feb. 29 that it was shedding 100 extra staff or about 7% of its whole workforce in a transfer to cut back prices. The corporate additionally introduced on April 18 that it was slicing one other 120 staff.
- Lynx Air: The low-cost airline mentioned it could stop operations in late February. Courtroom paperwork confirmed it had 500 staff.
- Mastermind Toys: The toy retailer, which just lately modified possession, terminated about 272 staff as Unity Acquisitions Inc. took over the corporate in January.
- Mountain Gear Co.: The Vancouver-based outside gear retailer says it laid off 14 individuals, or lower than 1% of its 1,700 workers, in January because it accomplished “main operational packages and initiatives.”
- Rona Inc.: The Boucherville, Que., house enchancment retailer introduced plans to axe 300 jobs and shut distribution centres in Terrebonne, Que., and Calgary in January as a part of a plan to regulate its working mannequin and remove inefficiencies.
- Staples Canada: The workplace provides retailer shared at first of February confirmed that it had minimize an unspecified variety of employees at its head workplace because it restructures and streamlines operations.
- Taiga Motors Corp.: The Montreal-based electrical snowmobile maker mentioned on April 2 it could lay off 70 staff on prime of 31 minimize in January, amounting to a one-third workforce discount to this point this 12 months as the corporate quickly halted car manufacturing after reporting a internet loss $72.5 million for 2023.
- TC Vitality Corp: The Calgary-based pipeline firm confirmed in early March it had minimize an unspecified variety of jobs from its Calgary and Houston operations as it really works to combine its Canada, U.S. and Mexico pure gasoline pipeline companies.
- Vice Media Group: The media group, which originated in Montreal, introduced plans in February to put off a number of hundred employees and mentioned it could cease publishing content material on Vice.com.
- Wayfair: U.S. house items retailer Wayfair says 50 employees in Ontario have been a part of a January layoff affecting 1,650 staff on the house items firm.
Learn extra about unemployment:
- The best way to qualify for EI advantages in retirement in Canada
- The best way to put together for doable job loss in Canada
- Out of labor? Do you have to take RRSP withdrawals to pay down debt?
- In-demand jobs in healthcare that don’t require an MD—and their salaries
The put up These firms have laid off Canadian employees in 2024 appeared first on MoneySense.
