OTTAWA — Shopify said on Tuesday it would lay off about 10 per cent of its workforce, citing a bad bet on the post-pandemic growth of e-commerce. Here’s what you need to know.
The move: The firm ended last year with more than 10,000 employees, suggesting about 1,000 workers will lose their jobs today. The layoffs will focus on recruiting, support and sales staff, as well as “over-specialized and duplicate roles” and teams that were “too far removed from building products,” Shopify CEO Tobi Lütke said in a memo the company published on its blog. The Wall Street Journal first reported the layoffs.