Canada Goose Cuts 800 Staff After Warm Winter, Lower Demand

Canada Goose has reported a significant reduction in its global corporate workforce by 17%, or roughly 800 employees. This announcement, shared by CBC News after CEO Dani Reiss posted on Canada Goose’s LinkedIn page, underscores the company’s efforts to streamline operations and cut costs in a changing economy.

Key points from the announcement

• Workforce Reduction: Canada Goose is laying off 17% of its global corporate staff. While the exact number of affected employees has not been disclosed, the move is framed as a strategy to enhance operational efficiency.
• Strategic Initiatives: The layoffs are part of a broader strategy to position the company for sustainable growth.
• CEO’s Message: Reiss expressed deep gratitude towards the “instrumental” employees for their  contributions to the company and for “spending part of [their] career” at Canada Goose. He said the decision was “heartbreaking” but “necessary for the next phase of [the] business.”
• Leadership Changes: Along with the layoffs, Canada Goose has announced changes in leadership roles to streamline operations and decision-making.

Warm Winter and Drop in Demand

Canada Goose’s decision comes against the backdrop of a challenging winter season, marked by delayed parka sales due to unseasonably warm temperatures.

The company is also feeling the impact of a slowdown in consumer demand. Canada Goose saw sales grow 6% compared to the previous year, but the results were short of market expectations. The luxury winter clothing maker is also contending with high inflation and interest rates.

Despite the layoffs, Canada Goose says is looking ahead to its next fiscal year with optimism.

Impact on Canadian staff

It remains unclear how many Canadian employees at Canada Goose will lose their jobs. Financial markets firm Refinitiv says the company had 4,760 workers in April 2023.

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