Canada Goose will cut 125 workers amid virus outbreak
Clothing manufacturer Canada Goose Holdings Inc. (GOOS) announced on Wednesday that it would permanently terminate about 2.5% of its global workforce to address the impact of the virus outbreak leaving 125 people unemployed.
The Toronto apparel maker said that it would continue supporting its laid-off workers, while Canada Goose’s staff will receive compensation packages and extended benefits. The company will also authorize them to keep their work computers and mobile phones.
Other popular luxury retailers, including Ralph Lauren (RL) and Capri Holdings (CPRI), were also forced to laid-off employees and cut investments as the pandemic severely affected the retail industry.
Canada Goose said in April that it was planning to resume operations on its Canadian factories to produce Personal Protective Equipment (PPE). The company also added that 900 workers across Canada would be involved in making PPEs.