The renovator RONA announces a restructuring and lays off 500 employees in Canada, including XX in Quebec. The head office will remain in Boucherville.
“Decisions like this are never taken lightly, as they impact the organization’s employees and their families. Employees affected by this change will receive support during this transition.
The organization’s head office will remain in Boucherville, on the South Shore of Montreal.
“In light of the current economic downturn, RONA, like other organizations that have recently announced restructurings, had to adapt to reflect new market realities,” the statement said.
Owned by a US investment fund
It will be remembered that a first wave of layoffs had hit the Quebec headquarters of RONA, then owned by the American company Lowe’s. The hardware store had laid off 60 employees in Boucherville, sowing concern and insecurity through all its departments.
In February 2023, RONA announced that it was once again becoming an independent company following its acquisition by Sycamore Partners, a New York-based private equity firm, following a transaction with Lowe’s.
“The organization is convinced that its transition plan aimed at making RONA the leader in the residential renovation sector in Canada will be positive for RONA’s viability and will benefit the organization’s stakeholders in the long term,” added press release issued today.
RONA operates a network of more than 900 corporate, franchise and affiliate stores of various sizes and formats, which employ nearly 30,000 people in all regions of Canada, under various banners, the company indicates.
