Shopify to layoff 20% ; Sell Logistics business to Flexport
🚩🚩 Canada's Shopify Inc $SHOP said on Thursday it would cut 20% of its workforce, marking the Canadian e-commerce company's second round of mass layoffs https://twitter.com/priapusiq/status/1654083528001200128?s=46&t=wISGeZQ3GU0Be4DFQuIaMA
Is this not over? Layoffs keep giving!
Absolutely not. This is the start of another wave.
It's not another wave, it's just smaller companies following the Jan-Feb wave that just happened in FAANG
Stock goes up
You guys realize that the market wants companies to layoff right now? This is bullish news from a market perspective
“sHoRT dE StOcK” said the genius in Blind… not knowing that the stocks almost always goes up after layoffs Employees ain’t selling shit.
People are starting to become smarter about recognizing dropship scams, which mostly use Shopify. You can get the same junk on Amazon, but at least you can return it.
Shopify recently sold suicide dust which is in circulation in Canada still https://www.complex.com/life/toronto-chef-charged-selling-poison
Oh no. Toby will soon find out what woke capitalism means lol - https://fee.org/articles/major-tech-ceo-speaks-out-against-woke-capitalism/ Shopify will die because there whole point is creating arbitrage (cough dropship cough) for small/mid market sellers who’ll not be able to compete as we go more digital.
Lol remember the “hire 2022 people by 2022 EOY” campaign? Yeah I remember.
Or we won’t lay-off anyone https://globalnews.ca/news/9494197/shopify-outlook-no-layoffs-coming-president/amp/
Maybe they did, it's 2023 now 🤷♂️
Wow 20% is a lot
On top of 10% last year, huge
20% on top of spinning out logistics, so maybe 30%? No idea how big that org was tho
For those curious, it’s roughly 1,800 employees https://globalnews.ca/news/9673162/shopify-layoffs-may-2023/amp/
It is actually 2700 people according to your link above.
You’re right, they updated the article
disgusting!
So according to earnings call these %20 is not part of the logistics org headcount sold to Flexport - this is %20 on top of that. That's just insane amount of people to get rid of. What they calling as "side quest" in the press release was also 3-4 billion $ fucking bet 🤯 This would for sure wipe out whatever left from their employer reputation.
Bad time for Canada’s Version of Amazon.com
Way to show your ignorance.
Amazon.ca