Layoffs in Canada

In April 2020, Canadian receipt management startup Sensibill laid off approximately 17 to 18 employees, representing about one-fifth of its workforce. The company cited a restructuring plan made necessary by the economic impacts of the COVID-19 pandemic. The layoffs, which occurred on April 1, were communicated internally the same day, but the company did not publicly announce them, leaving some former employees confused. Despite the cuts, Sensibill indicated it continued to hire selectively in certain areas like business development and IT. Shortly after the layoffs, the company secured $5 million in growth-focused debt financing from CIBC Innovation Banking, which was not tied to the restructuring.

Vancouver-based FinTech company Mogo announced temporary layoffs affecting 30 percent of its staff, approximately 78 employees out of a total of around 260, as part of its response to the economic uncertainty caused by the COVID-19 pandemic. The decision, disclosed in late March 2020 alongside its 2019 financial report, aims to accelerate the company's shift to a capital-light model and achieve positive cash flow. Alongside the layoffs, Mogo is implementing organization-wide expense reductions, including compensation cuts for executives, and deferring growth investments in technology and marketing. The company, which provides digital financial services as a challenger to traditional banks, continues to support existing customers while pausing new on-balance-sheet loans to navigate the challenging economic environment.

Ecobee laid off 47 employees representing approximately 10% of its workforce on 2020-03-26.

Toronto-based development agency Rangle.io has initiated temporary layoffs for 78 employees, representing approximately 30% of its current workforce of 246. This decision, announced in March 2020 amid the COVID-19 pandemic, is a response to severe financial pressures, including a slowdown or halt in client purchasing and new business efforts. CEO Nick Van Weerdenburg cited the pandemic's devastating impact on 2020 projections, noting that many companies are bringing work in-house or pausing external vendor relationships. This marks at least the third round of layoffs for Rangle in recent years, following cuts of 40 employees in January 2020 and 14 in 2018, as the tech agency navigates ongoing challenges to restructure and sustain operations during the global crisis.

Flowr representing approximately 25% of its workforce on 2020-03-24.