Sources told The Globe & Mail that the firm cut about 70 staff, and that most retained employees received bonuses or pay increases. Shopify spokesperson Jackie Warren told The Logic that The Globe’s report “grossly overestimated” the number of cuts, and that pay changes were part of a new compensation system the firm began rolling out in early August. (The Globe & Mail)

Talking point: The report comes after the Ottawa-headquartered commerce company’s 10 per cent staff reduction in late July. The number The Globe reported would represent a very small portion of the firm’s workforce—it hired over 3,000 employees last year, ending December with more than 10,000. On a late July earnings call, Shopify CEO Tobi Lütke said the company is focusing on productivity and investing in efficiencies, and that headcount cuts won’t affect the company’s product roadmap. The new compensation structure Warren cited allows employees to choose their salary-stock options split, following a sharp drop in the firm’s share price. Meanwhile, startups Thoughtwire and Fineao each recently laid off an undisclosed number of workers.