National

Hootsuite to lay off five per cent of staff

Darpan News Desk The Canadian Press, 02 Nov, 2022 05:01 PM

VANCOUVER - Social media company Hootsuite Inc. says it is laying off five per cent of its staff, just a few months after it laid off 30 per cent as part of a global restructuring.

Spokeswoman Tonja Aldis says the latest round of layoffs came from areas of duplication, reduced or slowed demand, and management.

When restructuring at the Vancouver-based company was announced in August, CEO Tom Keiser said Hootsuite needed to refocus its business so it could drive efficiency, growth and financial sustainability.

This latest round of layoffs comes as part of a wider trend in tech, with companies like Shopify Inc., Wealthsimple, RenoRun and others announcing cuts to their staff.

Data from Layoffs.fyi shows 728 startups worldwide have laid off about 95,732 employees this year.

Technology companies were among the best performers during the early part of the COVID-19 pandemic but its fortunes have turned in 2022 as economic concerns have investors moving to established companies rather than growth stocks.

Prev Next

MORE National ARTICLES

Competition Bureau to study grocery sector

Food retail prices in September rose at the fastest pace since 1981, with prices up 11.4 per cent compared with a year ago. That compared with an overall inflation rate of 6.9 per cent. Although the inflation rate has dropped from its peak of 8.1 per cent in June, food prices are outstripping the overall consumer price index and continue to rise.

Competition Bureau to study grocery sector

Sunak's ascent means stability in Canada-U.K. ties

Sunak will be the third British prime minister in less than two months, following the resignations of both Boris Johnson and Liz Truss. Truss spent just six weeks in the role before she was forced to step down following economic turmoil in response to her proposed tax cuts.

Sunak's ascent means stability in Canada-U.K. ties

Anti-violence program for B.C. health-care workers

The BC Nurses Union has been calling for better protective measures for its members for at least 30 years. Its president, Aman Grewal, says nurses are punched, kicked, grabbed and verbally and sexually harassed at increasingly dangerous workplaces, where injury rates are under-reported and higher than those affecting first responders.

Anti-violence program for B.C. health-care workers

IHIT called in after fatal shooting in Langley

According to the Mounties, this does not appear to be a random act. The area surrounding the scene will be cordoned off for a significant amount of time. IHIT will be working in partnership with Langley RCMP.

IHIT called in after fatal shooting in Langley

Newton shooting results in bullet holes in the exterior of the residence

Officers attended the scene and located holes in a fence as well damage to the exterior of a residence. The vehicle is described as a white four-door sedan. The investigation is ongoing and a motive has not yet been identified.

Newton shooting results in bullet holes in the exterior of the residence

2 men with weapons barricade themselves inside a grocery store: VPD

Two men have been arrested after barricading themselves with weapons inside a downtown grocery store this morning. A VPD crisis negotiator convinced the men to surrender without incident. The investigation is ongoing.