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has laid off about 125 workers, as the coronavirus pandemic saps demand for the company’s luxury fur-trimmed jackets.
The Toronto apparel maker, in a statement Wednesday to The Wall Street Journal, said it permanently laid off about 2.5% of its global workforce after previously taking other steps to address the impact of Covid-19 on its business. Canada Goose recently said it had more than 5,000 employees.
The layoffs show how the pandemic has piled additional pressure onto brands and retailers, even brands like Canada Goose that were enjoying strong demand for their products before many stores shut and consumers cut back their spending. Last year, Canada Goose’s revenue jumped 41%, helped by strong demand in China.
Canada Goose said in March it was temporarily closing its North American and European retail stores and suspending its in-house production. It also withdrew the long-term financial forecast that it gave last year.
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The company said last month it was reopening facilities in Canada to make PPE, or personal protective equipment, and that it planned to deliver as many as 1.5 million gowns. As many as 900 staffers were going to be working on that production, the company said.
On Wednesday, Canada Goose said staff who are laid off will receive compensation packages and extended benefits. They can also keep their work computers and phones.
Write to Allison Prang at [email protected]
Corrections & Amplifications
Canada Goose Holdings laid off about 125 workers, representing about 2.5% of its global workforce. An earlier version of this article and headline incorrectly said the company laid off about 250 people, or 5% of its workforce, based on information provided by the company. (Corrected on May 20)
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