Toronto, March 27: Canada-based clothing company Canada Goose, known for making luxury parka jackets, has announced to cut employees due to slow consumer demand. According to reports, Canada Goose has implemented layoffs of the global corporate workforce amid delayed luxury parka sales due to the 'unreasonable' warm temperatures. 

According to a report by CNBC, Canada Goose will implement layoffs by cutting 17% of its corporate workforce. The report said that the luxury parka jacket maker announced cutting employees following a "string of other retailers that have laid off employees in 2024. It mentioned that the reason for these layoffs is consumers pulling back on "discretionary spending". Ericsson Layoffs: Telecommunication Company Announces Job Cuts, To Reduce Workforce by 1,200 Positions in Sweden.

According to a report by CNBC, 17% of Canada Goose's corporate workforce will be cut, affecting 915 employees working at the company's headquarters as of April 2023. The luxury parka maker reportedly doubled its corporate workforce from 544 to 915 between April 2021 and April 2023. The report said that the company increased its workforce to support its "continued growth." 

The Canada Goose layoffs in 2024 will affect the employees, but the report said it cannot confirm the exact numbers. The report mentioned that the CEO Dani Reiss stated that the company would realign its team, ensuring its resources could be used for the next growth phase across the "geographies, categories and channels". The Canada Goose CEO added that the company would focus on achieving efficiency and margin expansion and invest in brand, design and operations. 

According to the report, the Canada Goose layoffs in 2024 are part of the company's "Transformative Program" and came after a "comprehensive review" of the company's goals. Canada Goose reportedly is expected to benefit from immediate cost savings due to these job cuts. The layoff action is expected to simplify the company's workforce and likely allow it to make quick decisions and offer efficiency. Dell Layoffs: Tech Giant Reportedly Announces Massive Job Cuts, Lays Off About 6,000 Employees.

The layoffs at Canada Goose have reportedly been initiated after the widespread layoffs by companies like Wayfair, Nike, Etsy, Macy's, and Hasbro over the previous few months. 

(The above story first appeared on LatestLY on Mar 27, 2024 01:16 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).