The 2024 layoff frenzy swept across Canada: industries undergo large-scale 'cleaning' of employees, resulting in tens of thousands of job losses!
Canada is continuously affected by a wave of layoffs starting from 2023. This wave of layoffs stems from companies reassessing their operational methods after the peak of the pandemic to cope with the economic downturn. Technology companies, retailers, and other industries have started laying off employees in order to survive and develop in a challenging economic environment.
Here are some companies that will lay off Canadian employees in 2024 and their related information:
BCE Corporation: On February 8th, Montreal's telecommunications giant announced 4800 layoffs, partially achieved through natural attrition.
BRP company: In December, Ski Doo manufacturer laid off over 120 employees and managers at three factories in Quebec.
BenchSci： In January, an artificial intelligence startup in Toronto laid off an undisclosed number of employees due to economic conditions and technological advancements.
BlackBerry: On February 12th, the technology company in Waterloo announced layoffs, with the exact number undisclosed, in order to split its two business units.
The Body Shop Canada: Court documents show plans to lay off around 200 employees and close 33 stores in March.
Canada Goose Holdings: In March, luxury clothing manufacturer announced a 17% reduction in global workforce.
Cascades Corporation: On February 13th, the paper and packaging company announced the closure of three factories, affecting 310 employees.
Cohere： In July, an artificial intelligence company in Toronto cut 20 jobs despite just completing a $500 million funding round.
Corus Entertainment: In February, the broadcasting company laid off employees at multiple radio stations, and in June, it also laid off 35 employees at Global News.
CPA Canada announced on February 12th that it will lay off 20% of its employees.
Dorel Industries: In March, children's products and home furniture manufacturers laid off 40 employees.
Enbridge Corporation: In February, Calgary's pipeline giant announced 650 layoffs.
Factory Direct： In February, Vaughn's electronics and home goods retailer laid off 200 employees during the bankruptcy process.
General Motors: In August, as part of global layoffs, a small number of employees were laid off in Canada.
Google: At the beginning of the year, tech giant laid off hundreds of employees, including Canadian employees.
Juste pour rire Group: In early March, the organizers of the Montreal Comedy Festival laid off 75 employees and sought creditor protection.
Hudson Bay Company: On April 30th, the chain department store laid off less than 100 employees.
Indigo Bookstore: In January, retailers laid off employees, but the exact number has not been disclosed.
Laurentian Bank: On May 16th, banks in Montreal cut approximately 60 positions, accounting for 2% of their total workforce.
Lightspeed Commerce: On April 3rd, a technology company in Montreal laid off approximately 280 positions.
Lion Electric Company: On February 29th, the electric bus company laid off 100 employees, accounting for 7% of the total.
Lynx Airlines: Low cost airline ceased operations at the end of February, with court documents showing 500 employees.
Mastermind Toys： In January, toy retailers laid off approximately 272 employees after changing ownership.
Mountain Equipment Co.： In January, outdoor equipment retailers in Vancouver laid off 14 employees, accounting for less than 1% of their total workforce.
OpenText: In July, a software company in Waterloo laid off approximately 1200 positions.
Rona Company: In January, Quebec's home improvement retailer laid off 300 employees and closed two distribution centers.
Saks Global： In July, Hudson's Bay Company spun off some of its brands into Saks Global without disclosing the number of layoffs.
SkipTheDishes： In August, an online food delivery company laid off approximately 100 Canadian employees.
Staples Canada: In early February, an office supplies retailer laid off employees at its headquarters, but the exact number was not disclosed.
Taiga Motors: On April 2nd, Montreal's electric snowmobile manufacturer laid off 70 employees.
TC Energy Company: In early March, the pipeline company in Calgary laid off some employees in Calgary and Houston.
Vice Media Group: In February, a media organization originating in Montreal plans to lay off hundreds of employees.
Wayfair： In January, American home goods retailer laid off 50 employees in Ontario.
Questerade Financial Group: In November, an online brokerage company laid off an undisclosed number of employees.
RioCan Real Estate Investment Trust: In November, the real estate company laid off approximately 50 employees in October.
Rogers： In November, the sports and media department of the telecommunications company cut ten positions.
Tokyo Smoke: In November, court documents showed that as part of bankruptcy proceedings, 115 employees were laid off.
Manulife Financial Company: Insurance company cuts approximately 2.5% of employees to control costs.
With the continuous challenges of the economic situation, the Canadian labor market still faces severe tests. The scope of layoffs spans across multiple industries, highlighting the profound impact of the global economic downturn on corporate decision-making.
Source: https://toronto.citynews.ca/2024/12/04/these-companies-have-laid-off-canadian-workers-in-2024-10/