RONA Inc. getting rid of 500 jobs across Canada, citing 'new market realities'

RONA Inc. says it's eliminating 500 jobs across Canada in a bid to simplify its organizational structure.

The Boucherville, Que.-based home improvement retailer says in a press release Thursday evening that it needed to adapt to reflect new market realities amid a slowing economy. 

The Canadian economy has been showing some signs of weakness amid higher interest rates as the central bank seeks to quell inflation. 

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