Sensibill Layoffs
April 2020
Sensibill announced a layoff affecting 17 employees (20% of its workforce) in April 2020. The company operates in the Finance sector.
17
20%
Apr 1, 2020
About
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.
Source
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