The Toronto-based software development company, which was acquired by H&R Block in 2019, reduced its headcount by 50 employees on March 8, Zahir Khoja, CEO of Wave, confirmed to The Logic. “As we build an even stronger future to serve more small business owners, we must align our structure with our long-term strategy… it is an important step in the growth of our company,” he said in an email. (The Logic)
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The Toronto-based software development company, which was acquired by H&R Block in 2019, reduced its headcount by 50 employees on March 8, Zahir Khoja, CEO of Wave, confirmed to The Logic. “As we build an even stronger future to serve more small business owners, we must align our structure with our long-term strategy… it is an important step in the growth of our company,” he said in an email. (The Logic)
Talking point: Wave joins other fintechs like Lightspeed and Clearco who have made staff cuts this year. Like those companies, Wave has seen its own leadership shakeup. Last June, co-founder and CEO Kirk Simpson left the company, saying that Wave reached $100-million in annual revenue and it was “time to pass the reins on to a new leader.” Khoja, former general manager of Australian buy-now, pay-later Afterpay, replaced him.
Update: The name of the individual attributed to Wave’s statement has been updated.
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