Canada Goose Layoffs 17% of Global Workforce

Canada Goose Layoffs 17% of Global Workforce

What prompted Canada Goose’s layoffs?

Canada Goose Holdings Inc. announced today a restructuring that will affect 17% of its global corporate workforce. In a LinkedIn post, CEO Dani Reiss expressed that these changes aim to optimize operations and enhance focus on key brand initiatives.

Reiss acknowledged the difficulty of these decisions, recognizing the contributions of departing employees. Despite the emotional weight, he emphasized the necessity of these actions for the company’s future growth.

When questioned about the specifics of the layoffs, Canada Goose declined to disclose the exact number affected. However, the company had 4,760 employees as of April 2023.

What Challenges has Canada Goose Faced Recently?

The restructuring follows a challenging period for Canada Goose, marked by warmer weather delaying the start of the typical parka buying season. This delay impacted sales, prompting discussions about the company’s performance and market dynamics.

In response to the changing consumer environment and economic conditions, Canada Goose is considering price adjustments to maintain its luxury brand positioning. This includes potential price hikes despite already selling parkas at high price points.

Additionally, the company announced organizational changes, with Carrie Baker taking on an expanded role encompassing design, and Beth Clymer assuming added operational responsibilities. These changes aim to streamline operations and decision-making processes.

Canada Goose described the restructuring as part of a broader organizational review aimed at achieving strategic objectives. The company anticipates immediate cost savings and increased efficiency as a result of these changes.

Severance Entitlement for Canada Goose’s Employees

In the Canadian context, non-unionized employees and executives impacted by the Canada Goose layoffs can receive up to 24 months of compensation in situations of job loss, arising from downsizing or corporate restructuring. Several factors like age, time in role and level of responsibility impact the entitlement of an individual’s severance pay.

At Whitten & Lublin, we recognize the challenges associated with job loss or termination, and our employment lawyers can assist you in navigating legal options. Our goal is to ensure individuals receive the compensation they deserve. We encourage anyone affected by recent layoffs in Canada to reach out for a consultation, either online or by phone at (416) 640-2667, to discuss their situation today.