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Canada Goose closes 6% lower after detailing plans to cut 17% of corporate roles

Investing.com -- Canada Goose Holdings Inc (NYSE:GOOS) closed more than 6% lower on Tuesday after the outerwear apparel maker said it plans to cut about 17% of corporate jobs as part of a restructuring effort amid a difficult consumer demand backdrop. 

The changes followed a "comprehensive review" and is expected to deliver "immediate cost savings, simplify organizational structure, accelerate decision making and increase efficiencies across our operating platform," the company said in a statement.

Following the jobs cuts, Carrie Baker, President, Brand&Commercial, will now also be additionally responsible for overseeing design. Beth Clymer, President of Finance, Strategy, and Administration will add operations to her existing responsibilities, while Chief Transformation Officer Daniel Binder will now provide oversight on the firm's global stores unit in addition to his current role.

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