Business

Canada Goose to cut staff, Victoria's Secret shutters some Canadian stores

Retailers with Canadian operations are laying off employees and closing stores as they grapple with COVID-19. Canada Goose Holdings Inc. is cutting 125 of its staff, or two per cent of its 5,000-person workforce, while Victoria's Secret is closing some of its Canadian and U.S. locations.

Canada Goose says it's offering the employees losing their jobs compensation and extended benefits

Retailers with Canadian operations are laying off employees and closing stores as they grapple with COVID-19. Canada Goose Holdings Inc. is cutting roughly two per cent of its 5,000-person workforce, while Victoria's Secret is closing 250 Canadian and U.S. locations. (Nathan Denette/The Canadian Press)

Retailers with Canadian operations are laying off employees and closing stores as they grapple with COVID-19.

Canada Goose Holdings Inc. is cutting 125 of its staff members, or roughly two per cent of its 5,000-person workforce.

The luxury parka company called the decision difficult, but said it had to take steps to address the impact of COVID-19 on its business.

Canada Goose says it's offering the employees losing their jobs compensation, extended benefits, a personal reference letter from chief executive Dani Reiss and the option to keep their corporate phones and computers.

Meanwhile, U.S. company L Brands says it will close about 250 Victoria's Secret stores in Canada and the United States and 51 Bath and Body Works locations.

The company says it is suspending store rent for April and May and is in active discussions with its landlords to negotiate payments and future occupancy costs.

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