10:16 AM EDT, 03/26/2024 (MT Newswires) -- Canada Goose Holdings Inc. ( GOOS ) said Tuesday that it is cutting 17% of its corporate workforce as part of an ongoing transformation program.

The company said the changes are expected to yield immediate cost savings, simplify organizational structure, accelerate decision making and increase efficiencies across the operating platform.

Moving forward, Canada Goose said its cross-functional teams will be integrated, and business activities will be aligned to its go-forward strategy.

"Today, we are realigning our teams to ensure that corporate resources are fit for purpose to fuel our next phase of growth across geographies, categories, and channels," Chairman and CEO Dani Reiss said. "We are focused on achieving efficiency and margin expansion, while investing in key initiatives - brand, design and best-in-class operations - that will powerfully position our iconic performance luxury brand to deliver long-term growth."

Canada Goose also outlined changes in management, including the expansion of Carrie Baker's role to oversee design apart from her current position as president of brand and commercial.

Beth Clymer, president of finance, strategy and administration, will add operations to her responsibilities following the departure of John Moran as COO.

Chief Transformation Officer Daniel Binder will now oversee global stores in addition to his current role.

Canada Goose was down 3.0% at last look.

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