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Vancouver-based Hootsuite lays off more than 100 employees

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DH Vancouver Staff Apr 30, 2019 11:39 am 5,822

Vancouver-based tech company Hootsuite has laid off dozens of employees.

A source told Daily Hive that the social media scheduling company has let go of over 100 workers.

A source close to Hootsuite that asked to remain anonymous said the layoffs included more than 30 marketing staff and more than a dozen sales staff.

Hootsuite confirmed the staff reductions to Daily Hive in an emailed statement.

“Today Hootsuite communicated organizational changes in order to drive greater alignment with our growing company’s strategic priorities that best serve our customers. Unfortunately, this included some reductions to our staff. We remain committed to helping employees affected by today’s announcement through these times of transition. Our goal is to ensure they are treated with dignity and respect.”

Founded by Ryan Holmes in 2008, Hootsuite provides individuals and businesses with a dashboard that manages and schedules posts across multiple social media platforms, such as Facebook, Twitter, Linkedin, and Instagram.

Approximately 16 million people and over 80% of Fortune 1000 companies use Hootsuite to manage their social media presence.

In October 2018, the company reportedly contracted Goldman Sachs Group Inc. to examine a sale of the company at a valuation of at least USD$750 million (CAD$970 million).

-With files from Kenneth Chan

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