Firms across tech, retail, and more cut jobs amid economic downturns
In 2024, Canadian workers continue to face layoffs, extending a trend that began in 2023 as companies re-evaluated their operations after the peak of the COVID-19 pandemic, according to an article by The Globe and Mail.
Various sectors, including technology firms, retailers, and others, have initiated workforce reductions to navigate through economic challenges.
Among the companies that have announced job cuts affecting Canadian employees in 2024 are:
-
BCE Inc.: The telecommunications giant based in Montreal reported a reduction of 4,800 jobs on February 8, attributing some of these reductions to unfilled positions and natural attrition in addition to layoffs.
-
BenchSci: This AI startup from Toronto disclosed layoffs in January, attributing the decision to economic conditions, the pursuit of operational efficiencies, and the need to adapt to technological advancements, especially generative AI.
-
Enbridge: The pipeline company headquartered in Calgary announced the elimination of 650 jobs throughout February, pointing to difficult business conditions such as higher interest rates, economic uncertainty, and the impact of geopolitical events.
-
Google: The technology behemoth commenced the year by downsizing its workforce, affecting hundreds, including employees in Canada, according to Dan Raile of the Alphabet Workers Union – Communication Workers of America.
-
Indigo Books & Music Inc.: In January, the retailer laid off staff as part of streamlining efforts following financial losses, a cyberattack, and changes in leadership.
-
Mastermind Toys: Following a change in ownership, the toy retailer let go of approximately 272 employees as Unity Acquisitions Inc. assumed control in January.
-
Rona Inc.: The home improvement retailer from Boucherville, Quebec, announced it would cut 300 jobs and close distribution centers in Terrebonne, Quebec, and Calgary in January to refine its operating model and remove inefficiencies.
-
Staples Canada: At the beginning of February, the office supplies retailer confirmed layoffs at its head office as part of its restructuring and operation streamlining efforts.
-
Wayfair: The U.S.-based home goods retailer revealed that 50 workers in Ontario were affected by a layoff in January that saw 1,650 employees let go from the company.
