FinanceCA

Koho Layoffs

November 2022

Koho announced a layoff affecting 15 employees (4% of its workforce) in November 2022. The company operates in the Finance sector.

People Affected

Percentage

Announced Date

Nov 17, 2022

About

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.