Performance Sports Group Ltd. said 59 employees of its Bauer brand are expected to be terminated between January and February 2016 due to the closing of a distribution facility in Mississauga, Ontario.
The distribution facility is being closed in February 2016 in an effort to better align the company's distribution activities with its overall business needs while enabling the company to better serve its customers, officials said. The moves are part of the company's five-year plan to improve pre-tax profitability by $30 million (excluding certain non-recurring costs or one-time costs that may be required to implement some of the related initiatives). The five-year plan was first announced in October 2014.
The closing is expected to result in pre-tax expenses and charges of $3.8 million, of which about $3 million represents severance.
–Tom Ryan
