British Columbia-based Epicure, a food distribution company that has built a loyal following, is the latest direct sales operation to cease operations, citing financial challenges as the reason for doing so after more than 30 years in operation. The company employed over 170 people across its operations and had a wide network of independent salespeople. Regarded for its healthy, nut- and gluten-free kitchen and food products, the company is working with MNP to support it through the next steps. Its website and social media accounts have been...

Amazon Canada announced plans to close seven of its warehouses in Quebec and lay off nearly 2,200 permanent and temporary staff over a period of a couple of months, job losses that will send a ripple effect into its delivery partners, meaning closer to 4,500 jobs will be impacted. A legal challenge is being put forth on the grounds that the company operated contrary to labour code. The challenge could include a fight for worker compensation on top of severance packages which will include up to 14 weeks’ pay and transitional benefits. Many...

Driven by a strong economy and cuts to the interest rate, JPMorgan Chase has experienced record annual profits as traders and dealmakers made the most of rebounding markets in the fourth quarter to secure windfall profits. The bank’s net interest income forecast also rose above analysts' expectations despite repeated warnings that high NII growth was unsustainable. NII did fall three percent to $23.5 billion, which was the first year-over-year decline since 2021. This resilience signals optimism for the banking sector in the wake of cuts to...

It is no secret that Starbucks is in the middle of an overhaul in an attempt to woo back customers to its cafés, and part of that plan is to streamline its menu by cutting 30 percent of it over the next year in favour of simplified workflows and faster service. The company also plans to add digital menus to stores across the U.S. and Canada over the next 18 months to speed up ordering and improve clarity for customers depending on the time of day. These changes are in response to same-store sales falling four percent last year over the same...

Bell Canada is offering severance packages to 1,200 unionized employees, citing unprecedented challenges, a move that is being acknowledged as ‘a damaging stunt’ by Unifor’s National President Lana Payne, who condemned the program. Payne stated, “Workforce reduction plans are a damaging stunt to temporarily reduce costs, making profits appear higher on the backs of workers. Bell cannot keep cutting jobs every year and expect the ship to turn itself around.” The packages are referred to by the company as an “enhanced voluntary separation...

TD Bank Group has closed on the sale of the entirety of its equity investment in The Charles Schwab Corporation (184,678,738 shares or 10.1 percent economic ownership). In total, 165,443,530 shares were sold through a registered offering valued at a price of US$79.25 per share, while Schwab repurchased 19,235,208 shares for a total purchase price of US$1.5 billion. TD will maintain its business relationship with Schwab through the Insured Deposit Account (IDA) Agreement.