RONA announces job cuts

Less than a year since Lowe’s exited Canada and sold its retail business to private equity firm Sycamore Partners, including RONA bannered stores, big cuts are underway for locations included in the deal.

Canadian home improvement retail leader RONA announced that it plans to cut about 300 jobs and close two distribution centers in a move that is expected to eliminate inefficiencies.  

The plan calls for the closing of a distribution center in Terrebonne, Quebec in March and in Calgary in October.

Last June, RONA reported that it eliminated 500 jobs across its retail network. 

In a press release issued at the time, the retailer said the cuts were made to “simplify its organizational structure to strengthen its position on the market and be more efficient.” 

RONA operated or serviced about 425 corporate and affiliated stores under multiple banners when the downsizing occurred.

Layoffs were soon followed by corporate executive moves, which saw Andrew Iacobucci appointed as the company’s new CEO and J.P. Towner being named chief financial officer, effective on Oct. 16, 2023.

Other moves over the past year included converting the banners of Lowe’s Canada stores to the RONA banner, which has served Canadian home improvement customers since 1939. This included the rollout of a new “RONA+” banner.

In February 2023, RONA announced that it had “re-established itself” as an independent industry player following its acquisition from Lowe’s by Sycamore Partners.

Valued at $400 million, the deal put an end to Lowe’s international ventures.