Canada Goose Lays Off 125 Employees Amid Coronavirus Closures

“The extent and duration of COVID-19 disruptions remain uncertain.”

By
Fashion 
3,005 Hypes 0 Comments

According to a new report from Reuters, fashion retailer Canada Goose Holdings Inc. announced on Wednesday that it would be laying off 125 employees. With a global workforce of more than 5,000 people, the lay off amounts to roughly 2.5 percent of its global staff count. While calling it a “difficult, but responsible decision,” the company did not give any further details regarding where these 125 employees are located or positioned.

The news comes after months of financial struggle caused by the ongoing coronavirus pandemic. The company had previously closed all of its North American and European retail stores ever since March 17 in light of various mandatory and voluntary lockdown laws from governments. At the time, the company said “The extent and duration of COVID-19 disruptions remain uncertain and they may negatively impact future fiscal periods more significantly,” while its CEO Dani Reiss pledged to forgo his salary for at least three months in order to help the company’s financial position.

Elsewhere in business-related news, MasterClass has raised $100 million USD in a new round of funding.

Read Full Article

What to Read Next

NEXUSVII and G-SHOCK Team up for Military-Inspired DW-5600
Fashion

NEXUSVII and G-SHOCK Team up for Military-Inspired DW-5600

Coming with a special infrared-tinted backlight.

Nissan Unveils First Production Example of GT-R50 by Italdesign
Automotive

Nissan Unveils First Production Example of GT-R50 by Italdesign

Deliveries of the $1.1M USD automotive will begin at the end of 2020.

FDMTL and Medicom Toy Craft Patchwork Denim BE@RBRICK
Design

FDMTL and Medicom Toy Craft Patchwork Denim BE@RBRICK

Detailed by intricate sashiko and boro patterns.


Sony Taps Marc Guggenheim for 'Spider-Man' Spin-Off Movie Focused on Jackpot
Entertainment

Sony Taps Marc Guggenheim for 'Spider-Man' Spin-Off Movie Focused on Jackpot

A superhero name once carried by two different women.

Nike Air Tailwind 79 Receives Toasty "Light Orewood Brown" Treatment
Footwear

Nike Air Tailwind 79 Receives Toasty "Light Orewood Brown" Treatment

Supple textiles for the vintage silhouette.

Macy’s Expects $1 Billion USD Loss Amid Coronavirus Pandemic
Fashion 

Macy’s Expects $1 Billion USD Loss Amid Coronavirus Pandemic

But it’s not at the brink of bankruptcy.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. By adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.