Leon’s Furniture cutting half of its staff, closing 72 corporate stores

TORONTO — Leon’s Furniture Ltd. is laying off 3,900 employees or about half its total current workforce as it deals with the COVID-19 pandemic.

The company says it will temporarily close 72 of its 205 corporate-owned stores across Canada.

The move comes as businesses across the country cut staff to deal with the economic slowdown caused by steps taken to slow the spread of the novel coronavirus.

The company’s retail banners include Leon’s, The Brick, the Brick Mattress Store and the Brick Outlet as well as Appliance Canada and Midnorthern Appliance.

Leon’s says it will offer supplemental payments to its employees on top of any employment insurance benefits.

The company will also extend company-paid benefits to these individuals.

Companies in this story: (TSX:LNF)

The Canadian Press