Rona cutting 500 jobs across Canada, citing ‘new market realities’

However, GDP grew at an annualized rate of 3.1 per cent in the first quarter, beating expectations.

The Canadian consumer has proven resilient amid tightening conditions, with household spending helping to buoy the economy’s growth in the first quarter.

In November, Lowe’s announced it was selling its Canadian retail business, including RONA, to New York-based private equity firm Sycamore Partners.

Rona says it operates or services around 425 corporate and affiliated stores under different banners across the country. It says it has 22,000 employees.

The company says decisions like these are never taken lightly, and it will support affected employees throughout the transition.