Montreal-based SRTX is temporarily laying off 40% of its 350 employees in response to proposed U.S. tariffs that could impose a 41% duty on some exports. CEO Katherine Homuth cited financial uncertainty due to tariff risks and delays in securing the final portion of a $23M USD funding round.
SRTX, which manufactures Sheertex pantyhose, recently raised $70M but remains heavily reliant on the U.S. market. Homuth said the company is rushing to ship products tariff-free before the 30-day exemption expires. Without new funding, pivoting to European markets remains unfeasible.
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