Canada companies laying off staff due to tech wreck

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You can see other videos from our team by tapping here. The Canadian companies laying off staff due to the post-pandemic tech wreck The move comes as the cooling economy has dimmed the prospects of high-growth companies, especially those that benefitted from the shift to e-commerce during the Pandemic. Giants such as Amazon.com Inc. have not been immune to the changing economic picture, either. It had reduced its staffing levels by 100,000 employees earlier this month because of the slowing of hiring. Here is a rundown of the major tech layoffs that have hit Canada recently. Vancouver-based Hootsuite said Tuesday that a 30 per cent cut to global staffing would bring its head count to just over 1,000 and was part of an effort to restructure the company. Chief Executive Tom Keiser said in an email that the move was made as the company refocuses its strategies to drive efficiency, growth and financial sustainability. This decision does not reflect on them, or their work, and we want to be very clear. Keiser said that it was a sign that there is a change to our business that aligns our strategies with the positions we need to be successful. The company announced last month that it was time to rebrand its integrated branding strategy in order to reflect our position and direction as social experts, trusted partners, and joyful mentors. Canadian tech giant Shopify Inc. laid off 10 per cent of its staff on July 26 because of a bet on continuous e-commerce growth that didn't pay off. The cuts of approximately 1,000 employees affected recruiting, support and sales.

Tobi Ltke, the company's chief executive, said the company expected the surge it saw at the height of the epidemic to be permanent and that they had to expand to keep pace. Consumers are returning to shopping at physical retail stores, despite the fact that growth has fallen back to pre-COVID trendlines. Placed this bet was my call to make, and I got this wrong. Now we have to adjust, L tke said. Aamir Baig, co-founder and chief executive, said the company was operating at a size larger than current demand and needed to resize the business, according to a post on Article's website. Like many eCommerce companies, we benefited tremendously from the demand increase from COVID. He said that the trend to online purchasing would be sustained, but that did not happen, and he said that it has since returned to pre-COVID trends.