Hootsuite lays off 30% of staff

Hootsuite Inc. announced yesterday that it will lay off 30% of its workforce due to global restructuring.

The social media business has not disclosed the exact number of staff it will lay off or the trigger for the layoffs. Hootsuite employs approximately 500 people in British Columbia, and around the world he employs more than 1,200, according to BIV research. This means about 350 people will lose their jobs. It’s not clear how many people in Vancouver will be directly affected by the job cuts.

Hootsuite CEO Tom Kaiser said on Tuesday, “Today is a tough day for Hootsuite…which sadly means saying goodbye to some of our employees.

He added that the move will help the company realign itself on a strategy that can thrive. said there is

“Today, our focus, both those who leave us and those who remain, is to ensure that our customers continue to receive the support they need,” he said.

Several other tech companies have made similar moves recently, laying off some of their staff.

Most notably, Shopify cut 10% of its staff in late July. Wealthsimple has also cut its headcount by 13%, while e-commerce investment platform Clearco has cut its headcount by 25%.

According to CTV’s report, 493 startups worldwide will cut about 67,562 employees in 2022, according to data from Layoffs.fyi.