British Columbia Sun

Canadian tech firm Hootsuite is laying off 30% of its crew

BC

Key takeaways: 

  • Several technology firms have reported significant layoffs lately.
  • The social media firm laid off nearly one-third of its staff on Tuesday.

Vancouver-based social media firm Hootsuite Inc. is laying off 30 percent of its team, the latest business to report layoffs during a recent surge in cutbacks in the tech sector.

“It is expressive of a change to our company that realigns our plans with the positions we ought to be successful,” CEO Tom Keiser stated in a statement.

“We must refocus our plans to drive efficiency, development, and financial sustainability.”

According to financial data company Refinitiv, the firm hires approximately 1,000 people.

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Vancouver-based social media firm Hootsuite Inc. is laying off 30 percent of its team, the latest business to report layoffs during a recent surge in cutbacks in the tech sector

The latest layoffs are in a wave of pink slips in Canadian tech.

Earlier this summer, WealthSimple laid off 13 percent of its team, followed by Ottawa-based Shopify laying off 10 percent a few weeks after.

Vancouver-based Unbounce laid off 20 percent of its team earlier this week, followed by an e-commerce vendor Article declaring it would also lower its headcount by nearly one-sixth.

Source – CBC News

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