Sheertex temporarily lays off 40% of staff as it braces for impending U.S. tariffs
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $205*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 05/02/2025 (605 days ago), so information in it may no longer be current.
The CEO of Sheertex says she’s had to temporarily lay off 40 per cent of the company’s staff, in part because of tariffs the U.S. has promised to place on Canadian goods.
Katherine Homuth says the Montreal-based maker of highly-durable pantyhose employed about 350 staff before the cut.
She says the company is facing tremendous financial uncertainty because of delays in closing the final portion of its most recent fundraising.
She also placed blame on impending tariff changes being made by the U.S., where Sheertex does 85 per cent of its sales.
Homuth’s business stands to not just be hurt by the U.S.’s impending 25 per cent tariff, but also on the removal of the de minimis exemption, which previously meant all direct-to-consumer orders under $800 were duty free.
The removal of the de minimis exemption will push Sheertex to face a 16 per cent duty on top of a 25 per cent tariff should the U.S. follow through with its threat. Homuth says the month-long pause on tariffs is not enough to help her business.
This report by The Canadian Press was first published Feb. 5, 2025.
