Loopio

Loopio, a software company specializing in response management solutions, has laid off 6% of its workforce. This difficult decision, announced by CEO Zak Hemraj, reflects broader challenges and changes within the software industry over the past 12-18 months. The layoffs are intended to allow the company to carefully manage resources and reinvest in product innovation and new capabilities. Loopio remains committed to its customers and market leadership. The company has encouraged job opportunities to be shared via a dedicated alumni email to support the affected employees.

Loopio, a Toronto-based software company specializing in response management solutions, has laid off 9% of its workforce. The difficult decision was announced by co-founders Zak Hemraj and Matt York, who expressed deep gratitude to the departing employees for their contributions to the company's growth. While the exact number of affected employees wasn't specified, the reduction reflects broader economic challenges and capital market shifts impacting the tech industry. The company emphasized that its ambition and commitment to customers remain unchanged, and it is actively assisting the impacted team members in finding new opportunities through a dedicated alumni email.

Toronto-based B2B SaaS startup Loopio has laid off 11 employees, constituting 8% of its workforce, due to economic pressures from the COVID-19 pandemic. The cuts, announced in mid-2020, affected sales, marketing, software development, and people operations teams. CEO Zakir Hemraj cited a significant slowdown and increased scrutiny in software purchasing decisions across industries, leading to deferred deals and a strategic shift in the company's growth and hiring plans. Despite the layoffs, Hemraj noted strong customer retention and sustained interest in Loopio's enterprise proposal management platform, which serves over 800 companies. The firm, founded in 2014 and backed by $11 million in funding, is exploring government relief programs while navigating the temporary market downturn.