The Toronto-based accounting software firm has named Mara Reiff and Wayne Jackson as interim co-CEOs. Outgoing CEO Don Epperson had been chief executive since 2020 and served as director for a year before that. Mark Girvan had spent nearly 10 years at the company and had been president since May. Along with the layoffs, the company is closing operations in Raleigh, North Carolina. (The Logic)

Talking point: FreshBooks laid off another 10 per cent of employees—about 80 people—in March. The company has been trying to reach profitability to finance its operations, rather than rely on outside capital. “It is winter in startup land,” FreshBooks founder and board chair Mike McDerment wrote in a blog post published Wednesday. “Winter is a season, and FreshBooks has experienced it before,” he wrote, adding that the company was founded in the wake of the dot-com bubble. Those periods helped the company refine its focus and strengthen the business, said McDerment. “I trust this winter will be no different,” he said.