The Vancouver-based online-learning platform said 100 employees will work their last day Thursday as it looks to increase efficiency and lower costs. (The Logic)

Talking point: Thinkific currently has 499 staff, up from 270 in the first quarter of last year. CEO Greg Smith said in a statement that the company conducted “a rigorous review of our organizational structure” and determined it could continue with its growth plans with the leaner workforce. Thinkific debuted on the Toronto Stock Exchange with a $1-billion valuation a little less than a year ago as the pandemic fuelled demand for online learning. The company priced its shares at $13 each at the time and they mostly traded above that until October, when it started declining to a low of $2.46. Shares closed up more than 18 per cent at $3.52. After its IPO, the company announced plans to build a media division—a customer-acquisition strategy for software-as-a-service companies—through hiring and possible acquisitions. Thinkific did not immediately respond to questions on whether the layoffs impact those plans.