Â鶹ӰÊÓ

Skip to main content

RONA Inc. getting rid of 500 jobs across Canada, citing 'new market realities'

A Rona store is seen Monday, November 5, 2018 in Laval, Que. THE CANADIAN PRESS/Ryan Remiorz A Rona store is seen Monday, November 5, 2018 in Laval, Que. THE CANADIAN PRESS/Ryan Remiorz
Share
BOUCHERVILLE, Que. -

RONA Inc. says it's eliminating 500 jobs across Canada in a bid to simplify its organizational structure.

The Boucherville, Que.-based home improvement retailer says in a press release Thursday evening that it needed to adapt to reflect new market realities amid a slowing economy.

The Canadian economy has been showing some signs of weakness amid higher interest rates as the central bank seeks to quell inflation.

However, GDP grew at an annualized rate of 3.1 per cent in the first quarter, beating expectations.

The Canadian consumer has proven resilient amid tightening conditions, with household spending helping to buoy the economy's growth in the first quarter.

In November, Lowe's announced it was selling its Canadian retail business, including RONA, to New York-based private equity firm Sycamore Partners.

RONA says it operates or services around 425 corporate and affiliated stores under different banners across the country. It says it has 22,000 employees.

The company says decisions like these are never taken lightly, and it will support affected employees throughout the transition.

This report by The Canadian Press was first published June 15, 2023.

CTVNews.ca Top Stories

The British Columbia election campaign is set to officially start today, with Lt.-Gov. Janet Austin issuing the writ for the Oct. 19 vote.

Local Spotlight

Cole Haas is more than just an avid fan of the F.W. Johnson Wildcats football team. He's a fixture on the sidelines, a source of encouragement, and a beloved member of the team.

Getting a photograph of a rainbow? Common. Getting a photo of a lightning strike? Rare. Getting a photo of both at the same time? Extremely rare, but it happened to a Manitoba photographer this week.

An anonymous business owner paid off the mortgage for a New Brunswick not-for-profit.

They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.

A growing group of brides and wedding photographers from across the province say they have been taken for tens of thousands of dollars by a Barrie, Ont. wedding photographer.

Paleontologists from the Royal B.C. Museum have uncovered "a trove of extraordinary fossils" high in the mountains of northern B.C., the museum announced Thursday.

The search for a missing ancient 28-year-old chocolate donkey ended with a tragic discovery Wednesday.

The Royal Canadian Mounted Police is celebrating an important milestone in the organization's history: 50 years since the first women joined the force.

It's been a whirlwind of joyful events for a northern Ontario couple who just welcomed a baby into their family and won the $70 million Lotto Max jackpot last month.

Stay Connected