“For a close-knit team like ours, this news is particularly difficult—the people leaving us today are not just our teammates but our friends.”
– Felicia Bochicchio, CEO of Unbounce
Vancouver-based Unbounce represents one of the latest Canadian tech companies to make staff reductions as they brace for the economic downturn.
Felicia Bochicchio, CEO of Unbounce, announced the employee cuts on LinkedIn, noting that the company had to make adjustments to its business and “invest with greater discipline and focus” due to the current turbulent market conditions.
Unbounce confirmed to BetaKit that the cuts amount to 20 percent of its workforce, which according to Unbounce’s LinkedIn page sat at 234 prior to the layoffs. However, the company did not disclose how many people from LeadsRx vs Unbounce were laid off.
“For a close-knit team like ours, this news is particularly difficult—the people leaving us today are not just our teammates but our friends,” Bochicchio wrote in the LinkedIn post. “As difficult as this decision was to make, it was necessary in order to support Unbounce’s purpose and strategy.”
Some of the teams that were affected by the layoffs at Unbounce include marketing, customer support, product development, and revenue operations as per a spreadsheet that appears to contain a list of Unbounce employees that were laid off.
A spokesperson for Unbounce told BetaKit that the layoffs were part of a “larger company restructuring,” and that the company will support departing employees with custom severance packages based on tenure, extended benefits for two months, and employee family assistance program access.
Speaking with BetaKit last year, CEO Bochicchio said that 2022 would be a pivotal year for Unbounce, with a focus on building AI-powered solutions that will be accessible to small and medium-sized businesses.
With its landing page and conversion optimization software aimed to help marketers build and test landing pages without a web developer, Unbounce boasts over 100,000 customers in more than 100 countries.
LeadsRx was meant to open up new opportunities for Unbounce “to access conversion value across a wider spectrum of the marketing funnel.” Founded in 2015 in Portland, Oregon, LeadsRx helps marketers increase customer acquisition efficiency, with the goal of creating better return on investment and identifying wasted ad spend.
Unbounce raised its first major round of funding in 2020; the $52 million deal allowed Crest Rock Partners, a Denver-based private equity firm to acquire a controlling stake in Unbounce.
Layoffs continue to sweep the Canadian tech sector, with Unbounce just the latest company reported as having to shed some of its staff.
Shopify announced last week that the reduction of about 10 percent of its global staff, which represents around 1,000 employees. Lending firm Clearco also recently announced the lay off of 125 people, which amounts to approximately one-quarter of its team. Other Canadian companies that have imposed layoffs in recent weeks include Coinsquare, Clutch, Wealthsimple, and BBTV, among others.