Calgary-based sports fan engagement software startup StellarAlgo laid off 21 employees in mid-October as part of a restructuring, a move the CEO attributed to a shift from rapid growth to a cooler financing environment where efficiency is prioritized. While the company declined to provide exact figures, the layoffs likely represent nearly a quarter of its workforce, which was referenced as being over 74 employees. The restructuring aims to help the company serve customers more efficiently and includes a reorganization into four new business units. This reflects a broader trend of tech companies adjusting their operations amid tougher market conditions and a more challenging funding landscape.
