‘They’re really, really scared’: 1 in 3 Toronto businesses anticipate layoffs amid U.S. trade shock

What’s going on with Toronto businesses?

Toronto is staring down potential job losses as sweeping U.S. duties continue to squeeze local companies.

A new City of Toronto survey finds nearly one-third of business owners expect to make staffing cuts in response to the escalating Canada-U.S. trade conflict.

• The findings were shared in a recent report to Mayor Olivia Chow’s executive committee, as part of the city’s broader tariff response plan.
• Conducted in partnership with the Toronto Region Board of Trade, the survey gathered input from 513 business owners and operators.
• 31 per cent of respondents anticipate layoffs, and an equal share are already enacting hiring freezes.

The top concern: Rising costs

75 per cent of respondents expect increased costs due to the duties — the most common concern reported.

• Businesses say they rely heavily on U.S. imports for raw materials, food, beverages, and manufactured goods.
• More than 50 per cent of those surveyed depend on U.S. imports, while 37 per cent export to the American market.

Industry feedback and growing fear

The survey was anonymous unless contact details were voluntarily submitted, meaning findings are based on self-identification by business owners or operators.

Lost your job in Toronto? Know your rights

If you’ve been impacted by layoffs in Toronto, it’s essential to understand what you’re entitled to under Ontario employment law — especially if you’re non-unionized.

What to know:

• Severance pay: You could be owed up to 24 months’ compensation, including salary, bonuses, commissions, and more. Use our Severance Pay Calculator to estimate what you may be entitled to.
• Time limits: You typically have up to two years after termination to challenge a severance offer.
• Legal support: Before signing anything, speak with an employment lawyer at Samfiru Tumarkin LLP to ensure your package is fair.

Get help now!

If you’re affected by the latest layoffs, our Toronto-based employment lawyers can help you secure what you’re owed.

Call 1-855-821-5900 or request a consultation online.

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.