27/05/2024 6:57 PM


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Canada Goose lays off 125 workers

FILE PHOTO: A man walks by jackets at the Canada Goose factory in Toronto, Ontario, Canada, February 23, 2018. REUTERS/Mark Blinch

(Reuters) – Retailer Canada Goose Holdings Inc (GOOS.TO) (GOOS.N) said on Wednesday it has laid off 125 workers, about 2.5{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} of its global workforce, as part of steps to cope with the impact of COVID-19 on its business.

The luxury parkas maker said it will continue to support the laid-off employees with compensation packages and extended benefits and allow them to keep their work computers and phones.

Luxury retailers, including Ralph Lauren (RL.N) and Capri Holdings (CPRI.N), are among the worst-hit firms as the pandemic pushes consumers to snub discretionary products for essentials, forcing companies to furlough employees and slash investments.

The Wall Street Journal had first reported on the layoffs.

The company said last month it was planning to reopen its Canadian facilities to make personal protective equipment (PPE), adding that, at full capacity, as many as 900 employees across Canada were going to be working to produce PPEs.

In March, the company suspended the long-term outlook it had provided last year.

Reporting by Arunima Kumar in Bengaluru; Additional reporting by Rebekah Mathew in Bangalore; Editing by Uttaresh.V

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