Restaurant software startup 7Shifts, based in Saskatoon, laid off 68 employees on January 11, representing 19% of its workforce. This marks the company's second round of cuts in four months, following a 7% reduction in September 2023, as it contends with difficult market conditions, including rising inflation and interest rates impacting its restaurant clients. The layoffs, affecting R&D, sales, operations, and people teams, are part of a push to improve efficiency and ensure competitive runway for growth. The company, which has raised about $152 million CAD and serves over 40,000 restaurants, is adjusting after failing to meet ambitious revenue targets set during a period of high market valuations.
