Symend

Symend, a financial technology company specializing in customer engagement, has announced a restructuring effort that includes layoffs. While the exact number of employees affected was not disclosed in the company's public communication, the move is part of a broader initiative to streamline operations and reorganize for future growth and product innovation. The decision, communicated to staff in early 2023, reflects the company's strategy to focus its team and resources on delivering differentiated value to clients through its Conscious Engagement platform. Symend expressed gratitude to impacted employees and emphasized its ongoing commitment to its core vision and leadership in the industry.

Calgary-based software startup Symend has laid off 50 employees, representing 25 percent of its staff, as part of a restructuring last week. This follows a previous round in November that cut 13 percent of the team. Combined, these reductions total about 80 employees, bringing Symend's headcount down to 186 from 296 in mid-2022—a drop of over a third. The company, which provides behavioral engagement platforms for telecom and financial services, cites a shift toward lean operations and sustainability amid uncertain economic conditions. Despite raising $54 million in growth capital just four months prior, Symend is adopting a conservative spending approach, with cuts now affecting various departments beyond the earlier product and tech focus.