This article was added by the user . TheWorldNews is not responsible for the content of the platform.

Hootsuite lays off 30% of staff, launches global restructuring

Article author:

Canadian Press

Canadian Press

Tara Deschamps

The Hootsuite logo is shown in this undated handout photo.
Hootsuite logo distributed undated Photo. Photo by HO /The Canadian Press

Hootsuite Inc. announced Tuesday that it will sell its 30% announced layoffs. Staff as part of global restructuring.

The Vancouver-based social media business declined to answer questions about the exact number of staff laid off and the reasons for the layoffs. But the latest figures from financial data firm Refinitiv show the company employs about 1,000 people.

"Today is a tough day for Hootsuite...which sadly means saying goodbye to some of our employees," Hootsuite CEO Tom Keiser said in a statement. said in

“These people are our colleagues and friends.

He said the move would help the company, once considered a darling of the Canadian tech scene, realign itself into a successful strategy. added that it would help. In particular, Hootsuite said it needs to refocus so it can drive efficiency, growth and financial sustainability.

He declined to elaborate further on the restructuring, stating: Get the help they need.

Hootsuite's cuts come as the tech company has made similar layoffs in recent weeks as investor interest in tech stocks wanes.

Most high-profile was Shopify Inc., which laid off 10% of its staff last month after Wealthsimple had already cut its workforce by 13% of his.

Clearco, the e-commerce investment platform run by 'Dragon's Den' star Michele Romanou, also cut its workforce by 25% of his at the end of July.

According to data from, 493 start-ups around the world laid off about 67,562 employees this year.

Hootsuite's Kaiser took the helm of the company in 2012, replacing founder Ryan Holmes.

During Kaiser's tenure, Hootsuite acquired his Heyday, an artificial intelligence chatbot company, for his $60 million in 2021.

At the time, wanting to acquire the Montreal-based company, the e-commerce sector was rapidly shifting to social and messaging platforms, and the acquisition would allow Hootsuite to transform brands into customer experience. You will have more opportunities to help improve your

opening envelope

You'll get the latest headlines, stories, opinions and photos of Toronto His Sun straight from the newsroom to your inbox at noon.

By clicking the subscribe button, you agree to receive the above newsletter from Postmedia Network Inc. You can unsubscribe at any time by clicking the unsubscribe link at the bottom of the email. Post Media Networks Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300