TORONTO –
Canada Goose Holdings Inc. says it is laying off 17 per cent of its global corporate workforce.
In a LinkedIn note from CEO Dani Reiss, the luxury parka maker says the job cuts are meant to put the company in a better position for scaling.
He says the Toronto-based business will now be focused on efficiency and key brand, design and operational initiatives.
Reiss thanked departing staff for spending part of their careers at Canada Goose and said the company will remember their commitment, accomplishments and impact.
The layoff comes months after executives said they were open to hiking prices as buyers rethink purchasing expensive apparel while interest rates and inflation remain high and temperatures are unseasonably warm.
The company did not release the number of employees impacted by the job cuts but financial markets data firm Refinitiv says it had 4,760 staff in April 2023.
This report by The Canadian Press was first published March 26, 2024.