Canadian Tire reducing corporate roles, but declines to detail cuts

Retail giant Canadian Tire confirmed on Tuesday it will reduce its corporate staff roles, as part of a transformation and modernization push the company says is necessary to remain competitive.

"Earlier this year, we announced that we would be transforming our company to better compete in a new era of retail, defined by global competitive threats and the increasing need for speed and efficiency," the company said in a statement.

"Changes are underway and we are altering various processes and teams to transform and modernize."

As part of these changes, "some corporate roles are expanding and others are being eliminated," the company said, without stating the number of people affected.

"While these changes are difficult, they are necessary to ensure that we remain a strong retailer, job creator and contributor to the Canadian economy well into the future."

A spokesperson confirmed these changes will result in an overall decrease in the number of corporate roles at the company.

These reductions do not involve roles in Canadian Tire stores.

The company did not say where the people were based whose jobs would be affected by the cuts. Canadian Tire's corporate home office is located in Toronto.

In March, Canadian Tire announced a new strategy to invest $2 billion over four years to restructure the company for growth.

In November 2023, Canadian Tire announced that it was then shedding three per cent of its full-time workforce, in a bid to lower costs.

Canadian Tire is a public company. It is due to report its latest quarterly results next month.

The retailer sells a wide variety of products, including automotive parts, sporting goods, hardware and building supplies, small kitchen appliances and more.

It has stores in every Canadian province, as well as in Yukon and the Northwest Territories.