- 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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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