Factbox-Layoffs pick up pace in Canada as Bell cuts 1,300 roles

Reuters

Published Jun 15, 2023 12:20

(Reuters) - Canadian companies across industries have laid off thousands in recent months as a post-pandemic spending splurge fades and rising interest rates fan fears of a possible recession.

The cuts mirror the tens of thousands of layoffs seen in the United States, where major companies such as Meta Platforms have carried out multiple rounds of retrenchment.

Here are some of the job cuts in Canada in recent months:

Company Layoff

Shopify (TSX:SHOP) Inc The e-commerce company in May said it plans to lay off 20% of its

staff. Shopify also cut 10% of its workforce in July last year

Bell The Canadian media and telecom firm is cutting 1,300 jobs, shuttering

six radio stations and selling another three, parent company BCE (TSX:BCE) Inc

said in June

Suncor Energy (TSX:SU) Canada's second-biggest oil producer Suncor told employees it plans to

cut 1,500 jobs this year, Reuters reported in June, citing two sources

Canopy Growth Corp (TSX:WEED) The company in February said it would shed assets in Canada and cut 800

job positions as part of the pot producer's efforts to reduce costs and

turn profitable

TC Energy (TSX:TRP) TC Energy is cutting some jobs to "optimize value", a company

spokesperson said in June, without giving details of how many positions

have been impacted

Imperial Oil (TSX:IMO) Ltd Imperial Oil said in February it is reducing the number of contractors

working at its Kearl oil sands site in northern Alberta as part of

measures to cut operating costs at the project

Olymel Olymel, one of the country's biggest pork processors, said in April it

would close a hog plant in Vallee-Jonction, Quebec by late this year,

laying off 994 people

Benevity The Calgary-based tech firm said in January it is laying off 14% of its

workforce, or 137 people

Absolute Software The company said in April that it reduced overall headcount by 40

Corp people, representing about 5% of total employees