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Indigo lays off 5,200 store employees effective Friday amid COVID-19 outbreak

Indigo lays off 5,200 store employees effective Friday amid COVID-19 outbreak

TORONTO — Indigo Books & Music Inc. is laying off temporarily 5,200 of its retail employees starting today after deciding to keep its stores closed indefinitely during the COVID-19 outbreak.
What Trudeau is offering small businesses struggling amid COVID-19

What Trudeau is offering small businesses struggling amid COVID-19

TORONTO — Small and medium business owners and entrepreneurs got a boost from Prime Minister Justin Trudeau on Friday as he handed more out relief for companies grappling amid COVID-19.
Magna withdraws guidance due to business uncertainty caused by COVID-19 outbreak

Magna withdraws guidance due to business uncertainty caused by COVID-19 outbreak

AURORA, Ont. — Magna International Inc. has withdrawn its 2020 outlook because of the "high degree of business uncertainty" caused by the COVID-19 pandemic. The Aurora, Ont.
Reitmans lays off most its retail workers, some head office staff

Reitmans lays off most its retail workers, some head office staff

MONTREAL — Reitmans (Canada) Ltd. is laying off 90 per cent of its Canadian retail store workers and 30 per cent of its Montreal head office employees after closing stores amid the spread of COVID-19.
Molson Coors Beverage Co. withdraws 2020 fiscal year guidance amid COVID-19

Molson Coors Beverage Co. withdraws 2020 fiscal year guidance amid COVID-19

MONTREAL — Molson Coors Beverage Co. says it is withdrawing its financial outlook for the 2020 financial year and beyond due to uncertainty about the impacts of the ongoing COVID-19 outbreak. The company released its guidance on Feb.
Quebecor temporarily cutting 10 per cent of its workforce due to COVID-19

Quebecor temporarily cutting 10 per cent of its workforce due to COVID-19

MONTREAL — Quebecor Inc. says it has temporarily laid off 10 per cent of its workforce as it deals with the impact of COVID-19. The Quebec-based telecommunications and media company employs more than 10,000 people in Canada.
Boston Pizza International laying off half of its corporate staff across Canada

Boston Pizza International laying off half of its corporate staff across Canada

VANCOUVER — Boston Pizza International Inc. is temporarily laying off approximately half of its 192 corporate staff across its three offices in Canada.
US consumer spending up modest 0.2% in February

US consumer spending up modest 0.2% in February

WASHINGTON — Americans increased their spending by a modest amount in February but the expectation is that spending will be hit hard in coming months reflecting the shutdown of the American economy by the coronavirus.
SNC withdraws financial guidance, moves to cuts costs and manage cash flow

SNC withdraws financial guidance, moves to cuts costs and manage cash flow

MONTREAL — SNC-Lavalin Group Inc. is withdrawing its financial guidance for 2020 as it works to cut costs and manage its cash flow due the COVID-19 pandemic and its impact of the company's operations around the world.
Lumber producer Canfor cuts production and capital spending due to COVID-19

Lumber producer Canfor cuts production and capital spending due to COVID-19

VANCOUVER — Canfor Corp. is cutting production and reducing capital spending as it deals with the COVID-19 outbreak. The Vancouver-based lumber producer says it has reduced its planned capital spending by $20 million for Canadian and U.S. operations.