TORONTO — A wave of layoffs last year, which left thousands of Canadian workers jobless, is continuing this year as recession predictions loom and the tech sector downturn deepens.
These are some of the companies which have said goodbye to Canadian workers so far in 2023.
Absolute Software Corp.: The Vancouver-based security software company said it would cut about 40 jobs as part of an April restructuring plan to reduce its operating expenses.
Bad Boy Furniture Warehouse Ltd.: The retailer, which is restructuring its business, said in November it had cut 20 of its 275 employees and warned "substantial further employee terminations in connection with the closure of stores" were coming.
BCE Inc.: The telecommunications giant said in mid-June that it would slash 1,300 positions, including six per cent of its media arm. It blamed the job cuts on a challenging public policy and regulatory environment, raising specific concerns about Bill C-11, the Online Streaming Act, and Bill C-18, the Online News Act.
Benevity: The Calgary-based company which creates charity-centric software revealed plans to slash its team by 14 per cent, leaving 137 workers without a job in January.
Best Buy: The consumer electronics retailer said it would be reducing its workforce by 0.7 per cent, estimated to be about 700 employees, in January.
Canadian Tire Corp. Ltd.: The retailer said in November that it would cut about three per cent of its workforce as it faces softening consumer demand. At the same time, it planned to eliminate the majority of current job vacancies, resulting in a further reduction of three per cent.
Canopy Growth Corp.: The Smiths Falls, Ont. cannabis company announced plans to shed 800 staff — 35 per cent of its workforce — in February in an effort to help the business reach profitability.
The cuts continued in September, when BioSteel Sports Nutrition Inc., the sports drink maker Canopy has a majority stake in, filed for creditor protection and announced 68 staff would be laid off.
Cineplex Inc.: The theatre chain says it laid off about 30 workers in February because "the state of box office recovery isn't where we or the industry expected it to be:''
Clearco: Michele Romanow's e-commerce investing business said goodbye to 25 per cent of its workforce in January as the Dragons' Dens star departed her chief executive role. The company previously laid off 125 employees from its 500-person workforce in July and then 60 in August.
Clutch: The online car retailer reduced its team from 231 to 81 people in January with its chief executive Dan Park citing a "challenging microeconomic environment.''
Desjardins Group: The financial services co-operative announced it was cutting close to 400 jobs in October as part of its response to economic uncertainty.
Google: Canadian Google employees affected by a 12,000-person cut the tech goliath announced in mid-January started being informed of their termination in early February.
Hootsuite Inc.: The Vancouver social media technology company cut seven per cent of its staff — about 70 people — in its third job cut in the last year.
Hudson's Bay: The department store chain said it was letting go of two per cent of its workforce, estimated to be about 250 employees, in January. The corporate roles were concentrated at The Bay and Hudson's Bay, the retailer's online and brick-and-mortar operations, and meant to help it navigate "significant external pressures.''
Lightspeed Commerce Inc.: The Montreal e-commerce software business laid off 300 workers — about 10 per cent of its head count — in January with most of the coming from management. The company said the move is meant to help it unify several businesses it recently acquired and already has plans to hire between 150 and 200 more staff.
Lion Electric Co.: The maker of electric vehicles announced in November that it was cutting 150 jobs or about 10 per cent of its total workforce in a bid to reduce costs.
Manulife Financial Corp.: The insurance company said in November it has cut 250 jobs globally in its investment management division, but did not provide details as to how many Canadian employees were affected.
Meta Platforms Inc.: The company behind Facebook and Instagram announced in mid-March that it would lay off 10,000 people and cease hiring for 5,000 roles as the firm embarks on a "year of efficiency.'' The company had laid off 13 per cent or 11,000 workers in November 2022.
NordStar Capital LP: The publisher behind the Toronto Star and a slew of other media outlets announced in September that 605 staff — 60 per cent of its workforce — would depart its local newspaper chain, Metroland Media Group, which was seeking protection under the Bankruptcy and Insolvency Act.
Nordstrom: The Seattle department store chain said in early March that it would close all of its Canadian stores, leaving 2,500 staff unemployed.
Postmedia Network Corp.: Sources told The Canadian Press in January that the newspaper publisher behind publications like the National Post, Vancouver Sun and Calgary Herald would lay off 11 per cent of its editorial staff. Days later, unions said the company had cut more than 75 jobs by outsourcing the printing and inserting of the Windsor Star.
Ritual: The Toronto-based food pickup service laid off about 40 per cent of its company, amounting to 38 workers in June, as it made changes to its fee system.
Rogers Communications Inc.: The Toronto-based telecommunications firm confirmed in July that "a small percentage" of staff left involuntarily since Rogers combined with Shaw.
Rona Inc.: The Boucherville, Que.-based home improvement retailer said June that it was eliminating 500 jobs across Canada in a bid to simplify its organizational structure and adapt to a slowing economy.
Scotiabank: The bank said in October that it would cut about three per cent of its global workforce as a result of changes in customers' day-to-day banking preferences, as well as ongoing efforts to streamline operations.
Shopify Inc.: The Ottawa e-commerce software company laid off 20 per cent of staff in early May in a move meant to help it more intensely focus on its main operations. Shopify refused to say how many staff would be departing the company, but before it laid off about 1,000 workers last summer, it had roughly 10,000 employees.
Stornoway Diamonds Inc.: The Montreal-based diamond company said in late October that some 425 workers would be temporarily laid off from working at its Renard mine in north Quebec, a site where it was suspending operations.
Suncor Energy Inc.: The Calgary-based company said at the start of June that it would cut 1,500 jobs by the end of the year as it aims to reduce costs and improve the firm's lagging financial performance.
Telus Corp.: The Vancouver telecommunications firm announced plans to slash 6,000 jobs in August, attributing the move to the "evolving regulatory, competitive and macroeconomic environment."
Thinkific Labs Inc.: The Vancouver education technology company culled 76 jobs from its workforce in January with chief executive Greg Smith saying it was a necessary move to reach profitability.
TVA Group: The Montreal-based broadcaster said in early November that it was laying off 547 employees — nearly a third of its workforce — as it contended with declining audiences and ad revenues.
VerticalScope: The Toronto-based technology company owned by the company that bought Torstar Corp. said in February that it was laying off around 60 employees, or 22 per cent of the company's workforce, to help it navigate the current economic environment.
This report by The Canadian Press was first published Nov. 27, 2023.
The Canadian Press
