Rona to Cut 200 Jobs
Home improvement retailer Rona Inc. plans to cut 200 full time administrative jobs across Canada, about 15 per cent of the total.
The downsizing is part of the company's plans to focus on its core businesses and reduce its other holdings.
Rona also says it's taking a hard look at its network of big-box retail stores outside Quebec and at its commercial and professional division.
The company is currently Canada's largest home-improvement retailer, with more locations across the country than Home Depot or Lowe's.
Investors have been unhappy with Rona's financial performance, especially since it turned down a takeover offer from U.S.-based rival Lowe's last year.
(The Canadian Press)