Shopify Layoffs 2022, Canada’s Largest E-Commerce Company, is Cutting 10% of Its Workforce

The details of Shopify layoffs 2022 are in this content.Shopify, Canada’s largest e-commerce company, is cutting 10% of its workforce as the COVID-19 pandemic slows online shopping. The company says it will let go of about 1,000 of its 10,000 employees as it deals with what it calls an ‘unprecedented’ slowdown in sales.Shopify says the pandemic has caused a ‘significant decrease’ in the number of orders from small businesses that use its platform.It says the cuts will help it ‘ weather the current economic storm.’The company says it will also cut salaries by 10% for all employees including its CEO until the end of the year.Shopify is just the latest e-commerce company to be hit by the slowdown in online shopping.Amazon the world’s largest online retailer has also announced plans to cut its workforce by 7% or about 5,000 jobs.

Details about Shopify layoffs in 2022 have been revealed. 

Shopify Layoffs 2022

The stock is down about 81% in the previous year!📉

Shopify, Canada's Largest E-Commerce Company, is Cutting 10% of Its Workforce

The Ottawa-based company announced the cuts in a blog post on Thursday, saying the pandemic has “accelerated the shift to online shopping” but also caused a “slowdown in consumer spending.”

“As we look to the future, we know that Shopify must adjust to these new realities,” the company said.

Shopify, which employs more than 5,000 people, said it would provide severance packages and outplacement services to those affected by the cuts.

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