![]() ![]() He said the company would focus on areas where it could work more efficiently. "This week, we, of course, had to say goodbye to some remarkable individuals that we've been working with, partly because we got the exact number of people we need for the current situation wrong," Lütke said during his earnings call. Lütke acknowledged that the layoffs were due to a miscalculation on Shopify's part. The layoffs were across departments but hit recruiting, sales, and support teams especially hard. Tuesday's layoffs, which affected about 10% of Shopify's workforce, were the first large head-count reduction it enacted in its history. ![]() The company had also set an ambitious goal of making 2,021 technical hires in 2021, though it's unclear if it hit that target. Similarly, Shopify's business doubled in 2020 and continued to grow at a high rate in 2021. By the end of 2021, it had more than 10,000 employees. According to Securities and Exchange Commission filings, Shopify had about 5,000 employees at the end of 2019, before the pandemic hit. ![]() Shopify's workforce essentially doubled during the pandemic. "We are going to a staffing level that we would be if COVID wouldn't have happened," he added. One day after Shopify laid off about 1,000 people, the Canadian e-commerce company used its second-quarter earnings call to detail how it would be resetting its strategy to account for lower rates of e-commerce growth than expected.ĭuring the call, CEO Tobi Lütke said Shopify had hired aggressively to match the explosive demand that the company saw for its products in 20.Īt that time, pandemic-related lockdowns and restrictions had sent many shoppers online, and more businesses launched online to capitalize on the increased interest, making Shopify's products more relevant.īut now, e-commerce has "normalized," Lütke said during the call. ![]() Shopify reported a loss for the second quarter.It laid off 1,000 people Tuesday after acknowledging it had miscalculated its pandemic bets.Shopify executives shared more on their plans to reset the company's strategy following layoffs. ![]()
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