Mold-Masters 2024 Layoffs Impact Canadian Employees: Reports

Samfiru Tumarkin LLP has learned that Mold-Masters Canada, a designer and manufacturer of plastic processing equipment and systems, is reportedly initiating layoffs affecting an unspecified number of its Canadian employees.

This development is in the wake of an announcement by Hillenbrand, Mold-Masters’ parent company, during a February earnings call.

CEO Kim Ryan stated that the industrial conglomerate is implementing “structural changes” in response to “greater than expected softness in customer demand” — attributed to the uncertain global macroeconomic conditions.

Mold-Masters has a global workforce of over 1,600 employees, with over 100 of them based in Canada.

Termination Agreements For Mold-Masters Employees

In Canada, non-unionized employees at Mold-Masters are owed full severance pay when they lose their jobs due to downsizing, corporate restructuring, or economic difficulties.

This includes individuals working full-time, part-time, or hourly in Ontario, Alberta, and B.C.

LEARN MORE
• Severance Pay in Ontario
• Alberta severance packages
• Understanding severance in B.C.

People working “on contract” or as a contractor may also be owed severance pay — given that many employees in Canada are often misclassified as independent contractors.

Severance can be as much as 24 months’ pay, depending on a number of factors.

WATCH: Employment lawyer Lior Samfiru explains what rights employees have if they are being fired or let go on an episode of the Employment Law Show.

Don’t sign on the dotted line!

Before you accept any 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 didn’t provide you with the correct amount, it’s very likely that you have been wrongfully dismissed and should contact an experienced employment lawyer at Samfiru Tumarkin LLP. Do not sign any deadline offer from your employer until you have spoken to our team. Once you sign back the offer, you lose your right to negotiate a fair package.

Non-unionized employees in Canada have up to two years from the date of their dismissal to pursue proper severance pay.

LEARN MORE
• Severance for provincially regulated employees
• Rights to severance for tech sector staff
• Severance packages during mass layoffs

Talk to an employment lawyer

Lost your job at Mold-Masters? Contact our team immediately.

The knowledgeable team of employment lawyers at Samfiru Tumarkin LLP has secured proper compensation for tens of thousands of non-unionized individuals across the country.

In addition to severance package negotiations, our lawyers have experience securing solutions for the following legal matters:

If you are a non-unionized employee in Ontario, Alberta, or B.C. who needs help with an employment 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.