2023-06-15 22:39:45
Retailer Rona announced Thursday night a restructuring that will result in the loss of 500 jobs at its chain stores specializing in home improvement.
The company said it wants to further simplify its operations in the context of the “current economic downturn”, which forces it to “adapt to reflect new market realities”.
According to the company, affected employees will receive support during this transition. No details were shared regarding the jobs being cut, but Rona said the company’s headquarters would remain in Boucherville.
Rona calculates that this simplification of its organizational structure will strengthen its market position and make it more efficient.
Acquired in 2016 by the American Lowe’s for the sum of 2.3 billion US dollars, Rona changed hands once once more last November, when the New York private equity firm Sycamore Partners disbursed 400 million, plus deferred consideration calculated on future performance, to become the owner.
Most recently, in March, Rona celebrated being an independent business once more, announcing that all of its Lowe’s stores would be converted “over time” to Rona stores. She then spoke of a “bright future” for her 26,000 employees, but in her press release on Thursday, she said she was now counting on a team of 22,000 employees.
Rona has 425 corporate or affiliated stores across the country, which are operated under the Rona, Réno-Dépôt, Lowe’s and Dick’s Lumber banners.
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