In August 2022, Toronto-based investor-relations software provider Q4 laid off approximately 48 employees, representing 8% of its workforce, as part of broader cost-cutting measures amid a tech sector downturn. The company, which went public in 2021, cited shifting market conditions, including persistent inflation and rising interest rates, which slowed demand from new clients like companies completing IPOs. CEO Darrell Heaps emphasized the need to accelerate profitability after a period of heavy investment, with layoffs affecting sales, marketing, and research-and-development teams. This move reflects the industry-wide shift from prioritizing growth to seeking sustainable profitability in a volatile economic environment.
