Shocking: Major Canadian Job Losses Announced for 2024!

As the economic landscape continues to shift and evolve, Canadians are facing the harsh reality of job cuts across various industries. The aftermath of the COVID-19 pandemic has prompted numerous companies to assess their operations, leading to a wave of layoffs in 2023 that has extended into 2024. From tech companies to retailers, the impact of this economic downturn is being felt far and wide.

Here are some of the companies that have made the difficult decision to lay off Canadian workers in 2024:

• BCE Inc.: The telecommunications giant based in Montreal announced on Feb. 8 that it would be cutting 4,800 jobs across all levels of the company. While some job losses were due to vacancies and natural attrition, layoffs were inevitable.
• BRP Inc.: The maker of Ski-Doo products revealed in December that it had laid off over 120 workers and managers at its Quebec facilities.
• BenchSci: The Toronto-based AI startup let go of an undisclosed number of employees in January due to economic challenges, operational efficiencies, and the need to adapt to technological advancements.
• BlackBerry Ltd.: The tech company based in Waterloo announced plans to cut an unspecified number of jobs in February as it worked on restructuring its business divisions.
• The Body Shop Canada Ltd.: Court documents showed that the cosmetics retailer planned to lay off around 200 workers in March as part of seeking creditor protection and closing several stores.
• Canada Goose Holdings Inc.: The luxury apparel maker based in Toronto announced in March that it was laying off 17 percent of its global corporate workforce to position the company for future growth.
• Cascades Inc.: The paper and packaging company revealed on Feb. 13 that it would be closing three plants, affecting 310 employees.
• Cohere: The artificial intelligence company in Toronto cut 20 roles in July despite raising a significant funding round, signaling a shift in its operational strategy.
• Corus Entertainment Inc.: The broadcaster confirmed layoffs across several stations in February, with additional cuts at Global News later in June.
• CPA Canada: Chartered Professional Accountants of Canada announced a workforce reduction of 20 percent in anticipation of changes from provincial oversight bodies.
• Dorel Industries Inc.: The children’s product and furniture maker disclosed that it had laid off 40 employees in March.
• Enbridge Inc.: The Calgary-based pipeline company unveiled plans to cut 650 positions in February due to challenging business conditions.
• Factory Direct: The retailer based in Vaughan, Ont., made a tough decision to terminate 200 employees as part of downsizing efforts.
• General Motors: The automaker laid off a small percentage of workers in Canada in August as part of a broader global headcount reduction.
• Google: The tech giant initiated workforce cuts early in the year, impacting hundreds of employees, including some in Canada.
• Just for Laughs Group Inc.: The company behind the Montreal comedy festival announced in March that it would be laying off 75 workers.
• Hudson’s Bay Co.: The department store chain reduced its workforce by less than 100 employees in April.
• Indigo Books & Music Inc.: The retailer laid off an unspecified number of staff in January as part of ongoing efforts to streamline operations.
• Laurentian Bank: The Montreal-based bank confirmed a reduction of about two percent of its staff in May.
• Lightspeed Commerce Inc.: The technology company in Montreal cut approximately 280 jobs in April to focus on profitable growth.
• Lion Electric Co.: The electric bus company announced multiple rounds of layoffs throughout the year to reduce costs.
• Lynx Air: The low-cost airline ceased operations in late February, affecting 500 employees.
• Manulife Financial Corp.: The insurance company implemented a workforce reduction of about 2.5 percent.
• Mastermind Toys: The toy retailer terminated 272 employees as part of an ownership change in January.
• Mountain Equipment Co.: The outdoor gear retailer in Vancouver laid off 14 employees in January.
• OpenText Corp.: The software firm in Waterloo announced 1,200 job cuts as part of a business optimization plan in July.
• Questrade Financial Group Inc.: The online brokerage firm laid off employees in November.
• RioCan Real Estate Investment Trust: The real estate business reduced its workforce by about 50 employees in November.
• Rogers: The telecommunications firm made cuts in its sports and media division.
• Rona Inc.: The home improvement retailer announced plans to axe 300 jobs in January.
• Scissors Global: Layoffs occurred as part of Hudson’s Bay Co.’s brand spin-off into Saks Global in July.
• SkipTheDishes: The online food delivery company laid off about 100 Canadian employees in August.
• Staples Canada: The office supplies retailer confirmed workforce reductions at its head office in February.
• Taiga Motors Corp.: The electric snowmobile maker laid off 70 employees in April.
• Tokyo Smoke: The cannabis retailer terminated 115 employees as part of creditor protection proceedings.
• TC Energy Corp: The Calgary-based pipeline company cut jobs in Calgary and Houston operations in early March.
• Vice Media Group: The media organization announced layoffs and the discontinuation of content on Vice.com in February.
• Wayfair: The U.S. home goods retailer laid off 50 workers in Ontario in January.

The wave of job cuts in various industries serves as a stark reminder of the ongoing challenges facing the Canadian workforce. As companies navigate economic uncertainties, the impact on employees underscores the need for resilience and adaptability in the face of change. It is crucial for both employers and employees to work together to weather the storm and emerge stronger on the other side. Let these challenges serve as a catalyst for innovation and growth in the ever-evolving Canadian job market.