Dorel Layoffs: 5% of home furniture division axed, part of restructuring

Dorel Industries Inc. (Dorel) has eliminated approximately five per cent of its home furniture division (Dorel Home) as part of a restructuring plan.

What’s happening at Dorel?

In its Q4 2023 earnings release, the Montreal-based company said it initiated the plan in the quarter — resulting in a restructuring charge of US$4.5 million.

“We remain convinced [that] we are on the path to a turnaround and expect improvements in 2024, but to a great extent this depends on the overall furniture industry health,” CEO Martin Schwartz said in the release.

“We will continue to seek lower costs through our restructuring plan…[and are] confident we will deliver the turnaround as we did in [Dorel Juvenile] in 2023.”

During a conference call with analysts, Schwartz added that Dorel has also “initiated headcount reductions” at its juvenile segment, which sells a variety of children’s products.

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Impact on Canadian staff

It remains unclear if Canadian employees at Dorel have been let go.

In addition to dozens of workers in Quebec, the company claims on its website that it employs more than 375 people at its manufacturing facility in Cornwall, Ontario.

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