Tracking the tech downturn across Canada with data
When the party winds down, the hangover is fast to follow.
layoffs
D2C startups not immune to downturn as Article, Mejuri make staff cuts
Article and Mejuri have cut their workforces by 17 and 10 percent, respectively.
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RenoRun lays off 12 percent of staff, pauses geographic expansion amid uncertainty surrounding consumer spending
CEO: “There’s just a level of uncertainty right across the board.”
Unbounce lays off 20 percent of staff as part of “larger company restructuring”
Unbounce CEO said cuts were necessary to support the company’s purpose and strategy.
F|T: The FinTech Times – Clearco, Coinsquare cut staff as Portage launches new late-stage fund
Plus: Caisse needs to explain its risky bet on crypto lender Celsius.
Canadian startup news of the week (8/1/22)
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Shopify stumbling, Rogers resilient, recession fundraising
All bets are off.
Clearco cuts a quarter of staff amid “significant headwinds”
Clearco called the cuts “necessary” and “prudent.”
Coinsquare lays off 24 percent of staff amid turbulent crypto market, shifted focus to regulation
The cuts follow hiring sprees that took place across the crypto space last year.
Shopify’s Q2 2022 growth continued to slow amid changing e-commerce market conditions
The results come one day after a 10 percent, company-wide reduction in staff.
Shopify laying off 10 percent of staff
Lütke: “It’s now clear that bet didn’t pay off.”
S|W: The SaaS Weekly – Introhive cuts staff, Contentsquare goes mammoth
Plus: Netflix coming to Vancouver with new acquisition.
Canadian startup news of the week (7/24/22)
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Introhive cuts 16 percent of workforce citing market conditions
CEO said the current environment makes it challenging to fund Introhive’s high-growth strategy.