MaRS Discovery District Layoffs: 11 employees cut, 8 moved to contract jobs

What’s happening at MaRS?

Toronto-based innovation hub MaRS Discovery District continues to streamline its operations by laying off 11 employees, and revamping its advisory model. These changes are part of its new business strategy under CEO Alison Nankivell.

• Following 20 layoffs in June 2024, primarily at the leadership level, MaRS has cut 11 more employees, with eight advisors transitioning from employees to contractors.
• These changes reduce MaRS’ headcount to 101 employees, while MaRS as a whole, including its Investment Accelerator Fund (IAF) and real estate division, now has 153 employees.
• Nankivell plans to reduce reliance on government funding, which currently makes up two-thirds of Discovery District’s revenue. Recent layoffs and realignment aim to save over $5 million, targeting $22 million in annual expenses.

CEO’s vision and business model shift

Alison Nankivell, who took over as CEO in March, outlined the need for a more unified operational structure, with the aim of integrating MaRS’ three key divisions—IAF, the real estate arm, and the Discovery District—under a single business model. Previously, these divisions operated in silos, but Nankivell emphasized that a unified approach would foster collaboration and resource-sharing across MaRS.

• Nankivell highlighted that MaRS had become overly reliant on government funding and is now targeting a balanced 50/50 split between public and private funding within the next few years. “You build a much more financially resilient model when you have multiple sources of revenue,” she explained.
• MaRS is also exploring international partnerships as a new revenue stream, with ongoing collaborations like the cooperative incubator with Innovate UK fostering connections between U.K. and Canadian startups.

Your rights

In Canada, non-unionized employees at MaRS Discovery District are owed full severance pay when they lose their jobs due to downsizing, corporate restructuring, or the closure of the business.

This applies to individuals working in any capacity — full-time, part-time, hourly, or potentially even independent contractors — in Ontario, Alberta, and British Columbia.

Severance is the compensation provided to non-unionized workers in Canada by their employer when they are terminated without cause, and can be as much as 24 months’ pay, depending on a number of factors.

WATCH: Employment lawyer Lior Samfiru explains why you are still owed severance if you have been downsized on an episode of the Employment Law Show.

Severance offers and deadlines

Before accepting a severance offer, double-check the amount using our firm’s free Severance Pay Calculator. It has helped millions of Canadians determine their entitlements.

In addition to your salary, make sure to factor in any other elements of your compensation (i.e. bonuses, commission, etc.).

If your employer’s offer falls short of what our Severance Pay Calculator says you are owed, it’s very likely that you have been wrongfully dismissed and should contact an experienced employment lawyer at Samfiru Tumarkin LLP.

Non-unionized employees in Canada have up to two years from the date of their dismissal to pursue proper severance pay. An employer’s deadline to sign back a severance offer is not legally enforceable or binding.

LEARN MORE
• Severance pay for provincially regulated employees
• Rights to severance during mass layoffs
• Severance entitlements in a recession

Major layoffs continue

The job cuts come amid a flurry of layoffs in 2024.

Big names, including Intuit, UiPath, Dyson, Vancity, Stifel, SAP Canada, Netflix, AmDocs, EXL Service, Best Buy, Relic Entertainment, Ubisoft, Intel, Amazon, and Telus, have pulled out the axe as they continue to navigate challenging economic conditions.

SEE ALSO
• Shell to lay off 20% of deals division, part of restructuring
• Walmart Canada cuts jobs amid restructuring, shift to Spark: Reports
• Where are layoffs happening in Canada?

Lost your job? Talk to an employment lawyer

If you have been fired or let go for any reason, contact the experienced employment law team at Samfiru Tumarkin LLP.

Our lawyers in Ontario, Alberta, and B.C. have successfully represented tens of thousands of non-unionized individuals.

In addition to severance package negotiations, we can assist you on a broad range of employment matters, including:

If you are a non-unionized employee who needs help with a workplace issue, contact us or call 1-855-821-5900 to get the advice you need and the compensation you deserve.

Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and should not be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.