More layoffs are coming to yet another Vancouver-based tech company, and this time it’s Hootsuite, for the second time this year.
During the summer of 2022, several major Vancouver-based tech companies announced layoffs when many companies were facing economic hardships. Some companies were also restructuring following the worst of the COVID-19 pandemic.
Hootsuite was one of those companies, and in August, the social media company announced that they were letting go of 30% of its staff. This time around, Hootsuite says 5% of staff will be impacted.
- You might also like:
- "Today is a hard day": Canadian tech company Hootsuite announces significant layoffs
- "Excruciating decision": Vancouver tech company Unbounce announces layoffs
- Nearly 1,000 people have been laid off in Vancouver's tech sector so far this year
A Hootsuite spokesperson suggests that “current economic and market realities” are why these layoffs are happening. However, the language of the statement Daily Hive received didn’t expressly state these were layoffs.
“As we navigate the current economic and market realities, we are closely monitoring to ensure that the size and costs of our organization fit the size of our business today,” the statement said.
“As we clarify our customer focus and priorities, and reflect on our organization, it is clear that we have some areas of duplication, reduced or slowed demand, and layers of management that we are addressing which will, unfortunately, result in approximately 5% of our employees leaving the business.”
A product manager at Hootsuite suggested it was indeed “another round of layoffs” in a public post on LinkedIn.
“Unfortunately, I was affected.”
Hootsuite’s previous round of layoffs back in August was due to the company restructuring and reducing its global workforce.
As of August of this year, nearly 1,000 people had been laid off in Vancouver’s tech sector.