Layoffs in Canada

Dapper Labs, the blockchain company behind NBA Top Shot, laid off approximately 51 employees, representing around 12% of its workforce, in November 2023. The layoffs were part of a restructuring effort to streamline operations and focus on core products, reflecting broader challenges in the cryptocurrency and NFT industry. The company, which had grown rapidly, aimed to achieve a more sustainable cost structure amid shifting market conditions.

Jasper, an AI content platform, has announced a restructuring that includes laying off a number of employees to sharpen its strategic focus. The company, which operates in the AI and marketing technology industry, is shifting its resources to better serve marketing teams at mid-size and enterprise companies. While the exact number of affected employees or the percentage of the workforce was not specified in the announcement, the decision was driven by the need to adapt to rapid industry changes and concentrate on emerging customer needs. The layoffs were communicated by CEO Dave Rogenmoser, who expressed gratitude for the contributions of the departing team members and emphasized the company's commitment to becoming a leading AI copilot for marketing.

Athennian, a Calgary-based legal tech startup providing entity management software, has undergone multiple rounds of layoffs and leadership changes over the past year as it transitions from a startup to a scaleup. In July 2023, the company laid off approximately 30 employees, following a previous round in September 2022. Since its peak headcount of around 100 in 2022, at least 40 employees have departed through layoffs or resignations, reducing its current team to about 87. This represents a significant reduction from 111 employees a year ago. Concurrently, the company has seen the departure of key executives, including its co-founder and COO, CTO, and two VPs. CEO Adrian Camara stated these changes are part of reorganizing teams and adding new leadership to prepare for the next level of scale, citing stable finances and increased demand. The layoffs reflect common growing pains after its Series B funding, aiming to streamline operations for future growth in the competitive legal technology industry.

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.

In June 2023, Toronto-based food ordering service Ritual laid off 38 employees, representing 40% of its workforce, which had dwindled to about 77 staff. This marked the company's third round of cuts in recent years, as the once-promising startup struggled to recover from pandemic impacts. With revenue stagnating and continued operating losses, Ritual made the difficult decision to restructure, aiming to strengthen its position while supporting restaurants globally. The layoffs reflect broader challenges in the tech sector and the shift away from office-centric ordering habits.

ZoomInfo laid off 120 employees representing approximately 3% of its workforce on 2023-06-02.

On May 4, 2023, Shopify, an Ottawa-based e-commerce platform, announced it would lay off 20% of its workforce, affecting over 2,300 employees out of approximately 11,600 total staff. This marks the company's second major round of layoffs in under a year. The cuts are part of a strategic shift to streamline operations, including the sale of its entire logistics division to Flexport in exchange for a 13% stake. CEO Tobi Lütke cited an unhealthy ratio of managers to "crafters" as a key factor, with managerial roles being disproportionately targeted. The move, aimed at long-term cost reduction, will incur significant severance and impairment charges but was followed by a stock price increase as investors reacted to the restructuring.

Montréal-based construction tech startup RenoRun has ceased operations and terminated its entire workforce after failing to secure financing or a last-minute acquisition. The company, which provided an e-commerce marketplace for building material delivery, entered insolvency proceedings in late April 2023. While the exact number of employees laid off is not specified, the shutdown implies all staff were affected as the company halted operations. Founded in 2016, RenoRun had expanded across North America but faced significant fundraising challenges in late 2022, with investors like Tiger Global not providing further support. Its assets are now being sold through a court-supervised process, with a goal to complete a transaction by mid-May.

Paper, an educational technology company, laid off 81 employees, representing roughly 3% of its total workforce and 15% of its corporate non-tutor team, on April 17, 2023. The layoffs were part of a proactive restructuring decision by the leadership to accelerate the building of a comprehensive Educational Support System. CEO Philip Cutler stated the move was made to focus the company's resources prudently and sustainably, aiming to broaden student support from kindergarten through graduation. Despite strong growth in tutoring, the restructuring is intended to better serve students in the long term, with the company noting it remains in a strong financial position.

Absolute Software, a cybersecurity firm specializing in self-healing security solutions, implemented a restructuring plan on April 4, 2023, to reduce operating expenses. The company laid off approximately 40 employees, representing about 5% of its total workforce, and plans to reduce office space. This move is expected to incur non-recurring charges between $1.8 million and $2.8 million, primarily for severance and facility-related costs, with most actions to be completed by the end of its fiscal 2023 fourth quarter.

Rewind, a provider of cloud backup and data recovery solutions, has announced a team reduction to realign the company for long-term success amid changing macroeconomic conditions. While the exact number of employees laid off and the total workforce size were not disclosed, the decision was described as difficult but necessary to refocus on core strengths in the cybersecurity landscape. The company expressed deep gratitude to departing colleagues and is offering severance packages and job placement assistance. This restructuring aims to ensure Rewind continues to deliver superior data protection services to its customers.

Toronto-based accounting software firm FreshBooks has laid off approximately 80 employees, representing 10 percent of its 800-person workforce. This second round of cuts since December is part of a strategic shift away from pursuing an immediate IPO toward achieving profitability by 2025, driven by unpredictable capital markets. The layoffs, announced in early 2023, primarily affected marketing, data, and product teams, including the departure of its CMO. As a late-stage FinTech company serving small-to-medium businesses globally, FreshBooks is now focusing on internal cash flow to fund operations amid broader industry downturns.

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.

Avidbots laid off 50 employees representing approximately 14% of its workforce on 2023-03-14.

Wave Financial, a Toronto-based fintech software company acquired by H&R Block, laid off 50 employees on March 8, 2023. CEO Zahir Khoja stated the cuts were necessary to align the company's structure with its long-term strategy and growth, aiming to better serve small business owners. This move places Wave among other fintech firms like Lightspeed and Clearco that have also reduced staff this year. The company had previously undergone leadership changes, with Khoja taking over after co-founder Kirk Simpson stepped down following Wave's achievement of $100 million in annual revenue.

Wattpad, the Toronto-based online storytelling platform, has laid off 42 employees, representing 15% of its 267-person workforce. The company-wide cuts were announced by interim president KB Nam, who cited the "changing economic environment" as the primary reason, stating that the global economic shifts have impacted the business despite efforts to mitigate them. This decision follows a period of significant growth, including hiring nearly 100 employees over the past two years after its acquisition by Naver for $754 million CAD. Operating in the tech and digital media industry, Wattpad, which boasts a community of over 94 million users, is now recalibrating its team size to align with current business realities amid broader economic uncertainties affecting the tech sector.

Dapper Labs representing approximately 20% of its workforce on 2023-02-23.

Titan Medical laid off 48 employees representing approximately 72% of its workforce on 2023-02-10.

Canadian fintech startup Koho has laid off 42 employees, representing 14% of its workforce, reducing its total headcount to 300. The company-wide cuts, confirmed in early 2023, are part of a restructuring effort amid ongoing tough market conditions in the tech industry. CEO Daniel Eberhard stated that the layoffs are not aimed at extending the company's financial runway but rather reallocating capital toward growth initiatives to accelerate scaling and move toward profitability. This follows a previous restructuring in the fall that affected 15 roles. Koho, which raised $210 million in a 2022 Series D round nearing a $1 billion valuation, remains well-capitalized and continues to hire selectively in areas like product and marketing while navigating the current economic downturn.

Canadian AI unicorn Ada, a customer service automation startup with approximately 480 employees, conducted its second round of layoffs on February 1, following an initial 16% reduction four months prior. While the company did not disclose the exact number affected this time, describing it only as "a portion" of its workforce, the cuts included senior leadership such as the chief technology officer. Ada cited the need to pivot and respond to an uncertain and challenging macroeconomic climate, aiming to better position the company for future success. This move reflects a broader trend in the tech industry, where multiple rounds of layoffs have become common as companies adjust from the boom periods of 2020 and 2021.

VerticalScope, a Toronto-based digital media company, laid off 60 employees, representing 22% of its workforce, in early February 2023. This downsizing was part of a broader trend of tech sector cutbacks, driven by economic uncertainty and a significant business downturn. The company, which operates over 1,200 enthusiast community websites, reported a sharp decline in fourth-quarter revenue, particularly in e-commerce and digital advertising, prompting a restructuring to prioritize key opportunities and adjust its cost structure.

OpenText, a Canadian information management software company, announced workforce reductions following its $5.8 billion acquisition of Micro Focus, completed in late January 2023. The combined company, now with approximately 25,000 employees, expects to cut about 8 percent of its workforce, equating to roughly 2,000 layoffs. These cuts are part of a plan to achieve $400 million in cost synergies and streamline operations after the merger, which aims to create a global leader in software and cybersecurity. The layoffs reflect typical consolidation efforts in the tech industry post-acquisition, as OpenText integrates Micro Focus's products and talent to accelerate digital transformation for its clients.

SSENSE, a Montreal-based luxury fashion retail startup, laid off approximately 138 employees, representing about 7% of its workforce, in early 2023. The company cited the need for long-term sustainability amid broader economic pressures affecting the tech industry. This marked the first layoff in SSENSE's 20-year history, as it joined numerous other Canadian startups and global tech giants in reducing staff during a period of significant market volatility and downturn.

In January 2023, Vancouver-based social media management company Hootsuite laid off approximately 70 employees, representing about 7% of its workforce. This marked the company's third round of job cuts within six months, following larger layoffs in August and additional reductions in the fall. The decision was part of a broader effort to navigate challenging macroeconomic conditions, including rising interest rates and a tech sector downturn that began in late 2021. Concurrently, Hootsuite announced a leadership change, appointing Irina Novoselsky as its new CEO, replacing Tom Keiser. The company stated that these difficult measures were necessary to position Hootsuite for long-term stability amid ongoing industry turbulence.

Benevity, a Calgary-based enterprise software company specializing in corporate social impact and philanthropy platforms, laid off approximately 10% of its workforce in late 2024. This reduction, affecting around 65 employees, was part of a strategic restructuring to streamline operations and improve efficiency amid broader economic pressures in the tech sector. The company, which had about 650 employees prior to the cuts, stated the move was necessary to ensure long-term sustainability and focus on core product development. Benevity continues to serve major corporate clients with its platform for managing donations, volunteering, and grants.

Lightspeed Commerce, a global commerce platform, announced a reorganization on January 17, 2023, resulting in the elimination of approximately 300 roles, which represents about 10 percent of its headcount-related operating expenditures. This move follows the company's integration of acquired brands and the global launch of its flagship products, aiming to streamline operations and achieve a leaner structure for greater agility and profitable growth. The restructuring, which includes significant reductions in management layers, is expected to incur cash charges primarily for severance and related costs. Lightspeed, dual-listed in New York and Toronto and operating in the fintech and commerce software industry, continues to hire in core areas while anticipating third-quarter financial results within its revenue outlook and ahead of its Adjusted EBITDA expectations.

In January 2023, the Toronto-based online car marketplace Clutch announced significant staff reductions, contributing to a wave of layoffs in the tech sector. While the exact number of employees affected at Clutch was not specified in the report, the cuts were described as deep. The broader industry context includes economic pressures from inflation and rising interest rates, which have led companies to streamline operations and focus on profitability. This period saw numerous tech firms, including Lightspeed and Microsoft, announcing workforce reductions to adjust to shifting market conditions and investor sentiment.

ClearCo, a Canadian fintech startup that achieved unicorn status in 2021, has laid off approximately 50 employees, representing just under 30% of its workforce, as part of a major restructuring. This marks the company's second significant round of layoffs within a year, following a 25% reduction in July 2022. The cuts, spanning various departments and levels, reduce the total headcount to 140—a dramatic 72% decrease from its peak of over 500 employees just six months prior. The layoffs coincide with a leadership change, as co-founder Michele Romanow steps down as CEO, replaced by investment banker Andrew Curtis. The company aims to achieve cash flow break-even in 2023 amidst these ongoing adjustments in the competitive e-commerce financing sector.

Toronto-based delivery and logistics startup GoBolt laid off 55 employees in early January 2023, impacting approximately five percent of its workforce of over 1,000. The layoffs were announced by co-founder and CEO Mark Ang, citing economic uncertainty and a strategic shift to focus spending on areas with a clear, immediate return on investment. The company is pivoting its focus away from small-to-medium-sized businesses to concentrate solely on its more profitable mid-market and enterprise merchant segments. This restructuring comes about a month after GoBolt secured $75 million in Series C funding for North American expansion and growing its electric vehicle fleet, highlighting the challenging climate for tech firms despite recent financing.

Vancouver-based edtech company Thinkific has laid off 76 employees, representing 19% of its workforce of 394, as part of a renewed push to achieve profitability. Announced on January 10, 2023, this marks the second significant round of cuts in less than a year, following a reduction of 100 staff in March 2022. CEO Greg Smith cited the need to refocus the company and accelerate its path to positive adjusted EBITDA by year's end. The publicly traded software firm, which helps creators build and sell online courses, is navigating a challenging economic downturn that has impacted the broader tech industry, leading to widespread layoffs as companies prioritize financial sustainability over growth.

Toronto-based insurtech startup Briza laid off approximately 26 employees last week, representing nearly half of its workforce, which previously stood around 65. The layoffs occurred amid a broader economic tightening and challenging fundraising environment, leading to a leadership transition where CEO and co-founder Ben Munro stepped down. CTO Rishi Sharma has assumed the CEO role and executed the staff reductions, which included senior director-level positions. Founded in 2016 and backed by venture capital, Briza provides an insurance-as-a-service API platform for commercial insurance. This move reflects a wider trend of year-end workforce adjustments across the Canadian tech sector as companies brace for continued economic headwinds.

In late 2022, amidst a widespread economic downturn affecting the tech sector, Montréal-based data fulfillment company Revelate laid off 24 employees, representing approximately 30 percent of its workforce. The company, which had recently rebranded from TickSmith and secured $20 million CAD in Series A funding, made the difficult decision to restructure, citing the need to ensure the sustained health and growth of the business in a dramatically shifted economic environment. This move was part of a broader wave of layoffs across Canadian tech companies as they prepared for a challenging 2023.

Bridgit laid off 13 employees representing approximately 13% of its workforce on 2022-12-06.

Thinkific, a Vancouver-based online course platform, conducted another small round of layoffs last week, terminating more than a dozen staff, primarily in marketing roles. This follows a larger layoff in March 2022, when the company let go of 100 employees from its peak of 500. The recent cuts are part of a broader downturn in the tech sector, as the post-pandemic market correction impacts Canadian companies. Thinkific, which went public in 2021 and saw its stock price fall sharply, continues to launch new products like "Communities" and maintains its focus on growth in the knowledge economy, despite the ongoing adjustments to its workforce.

ApplyBoard laid off 90 employees representing approximately 6% of its workforce on 2022-11-28.

Ledn on 2022-11-28.

Toronto-based rapid local commerce delivery startup GoodGood has ceased operations entirely, resulting in layoffs for all 60 of its employees. The company, which operated in the quick commerce and food delivery industry, announced its shutdown on November 21, 2023, after failing to secure additional funding. Founded in 2021 and having raised a $6.5 million CAD seed round, GoodGood built a network of cafés and delivery services in downtown Toronto. The startup cited a severe downturn in venture capital availability, coupled with high interest rates, inflation, and a looming recession, as the primary reasons for its closure. This reflects broader challenges in the rapid delivery sector, where even larger players have scaled back. The company is assisting its retail-focused staff in finding new positions at other local businesses.

Koho, a Canadian fintech company, is among at least 10 tech firms in Canada that have recently conducted layoffs as the industry braces for a prolonged economic downturn. The company, alongside others like Properly, TealBook, D2L, and League, is cutting staff to reduce costs and extend its financial runway amid challenging market conditions. This trend is driven by a tough fundraising environment, rising interest rates, and inflation, which have forced companies across various sectors to adjust their growth expectations and workforce size. While specific numbers for Koho's layoffs are not detailed in the article, the broader context highlights a significant wave of job cuts in the Canadian tech scene during late 2022, reflecting efforts to navigate uncertain economic times.

TealBook laid off 34 employees representing approximately 19% of its workforce on 2022-11-17.

D2L, a company specializing in digital learning solutions, announced on November 16, 2022, that it reduced its workforce by approximately 5% as part of a strategic shift to balance growth and profitability amid economic uncertainties. While the exact number of employees affected was not specified, the layoffs reflect the company's focus on navigating the current environment while continuing to invest in product development and client services. D2L is providing severance benefits and transition support to those impacted, emphasizing its commitment to long-term success in the education technology industry.

In November 2022, Vancouver-based insurtech company Apollo Insurance laid off approximately 25% of its staff across various departments. The cuts were attributed to a "renewed focus" for the organization after the business failed to meet its revenue targets for the year. Co-founder David Dyck stated the changes were intended to improve coverage and pricing to achieve a more sustainable business model, while emphasizing that technology and product offerings would not be reduced. The company, backed by investors like Liberty Mutual, Definity, and Trisura, planned to continue investing in technology and introduce new capabilities for brokers despite the workforce reduction.

Properly, a Canadian real estate technology startup, laid off 71 employees on November 15, 2022, as part of a significant restructuring. The company's CEO cited a rapid deterioration in the Canadian housing market and a shift in startup funding conditions, which forced the company to scale back from its previous aggressive growth plans. The layoffs were a direct result of over-expansion during a more favorable market period in 2021. Properly, which operates as a modern, full-service brokerage, provided affected staff with severance, extended benefits, and career support.

Dapper Labs, the Vancouver-based blockchain company behind NBA Top Shot, has laid off approximately 134 employees, representing 22% of its workforce of 613. The layoffs, confirmed this week, are part of a strategic reorganization to address operational challenges from rapid growth and a refocus on sustainable product strategy. CEO Roham Gharegozlou cited the need for greater alignment and nimbleness, while also acknowledging the impact of macroeconomic headwinds and a significant downturn in the NFT market, where trading volumes have plunged. This move follows a pattern of tech companies scaling back after periods of aggressive expansion.

RenoRun, a Montreal-based construction materials delivery startup, laid off 210 employees on October 27, 2022, representing 43% of its workforce. This followed an earlier round of cuts in August, reducing total staff from over 550 in July to 274. The layoffs, which included part of the leadership team, were driven by a deteriorating macroeconomic environment marked by rising inflation and interest rates, which is dampening consumer spending on remodeling and impacting contractor clients. The company, operating in the competitive tech startup sector, is shifting from a growth-focused strategy to prioritizing profitability and serving its core customer base amid broader industry layoffs and venture capital pullbacks.

VanHack, a tech recruitment platform, recently conducted layoffs, parting ways with a number of employees due to challenging economic conditions. While the exact number of affected employees and the percentage of the workforce were not specified in the announcement, the company's CEO described it as a tough day and emphasized the talent of those departing. The layoffs are attributed to the broader economic climate, and the company plans to share talent lists to help the affected professionals find new opportunities. This event highlights the ongoing pressures within the tech and recruitment industry.

Vancouver-based identity verification unicorn Trulioo has laid off 24 employees in Canada this month, with global staff reductions expected to reach 40 to 50 people. This represents five to 10 percent of its workforce, which stood at about 400 prior to the cuts. The layoffs are a strategic repositioning, as the company has decided to stop selling to small businesses—a segment that accounted for less than 3% of revenue but consumed an estimated 50% of go-to-market resources. Trulioo will now concentrate its efforts on serving medium and large enterprises operating internationally. CEO Steve Munford described this as a one-time move to streamline operations for growth. The fintech and identity verification firm, valued at $2 billion, is navigating a challenging economic climate that has impacted many tech companies.

Ada, a conversational AI company, has laid off 78 employees. While the exact total workforce and percentage affected are not specified in the post, CEO Mike Murchison announced the difficult decision, expressing gratitude for the contributions of those impacted. The layoffs occurred as part of a workforce reduction, with the company offering support to affected individuals. The post, made on LinkedIn, reflects a broader trend of adjustments within the tech and AI industries.

SkipTheDishes laid off 350 employees on 2022-09-09.

Shopify laid off 70 employees on 2022-09-01.

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.