EducationCA

Thinkific Layoffs

March 2022

Thinkific announced a layoff affecting 100 employees (20% of its workforce) in March 2022. The company operates in the Education sector.

People Affected

100

Percentage

20%

Announced Date

Mar 29, 2022

About

Vancouver-based online course platform Thinkific is laying off 100 employees, representing one-fifth of its 499-person team. The cuts, announced after the company reported a $26.4 million USD net loss last year, are part of a restructuring to increase efficiency and reduce costs. Affected roles span general administration, customer support, management, and targeted reductions in research & development and sales & marketing. This move follows a period of rapid post-IPO growth, where headcount nearly doubled since early 2021, but was accompanied by mounting losses and a significant drop in share price. The company, which went public on the Toronto Stock Exchange in April 2021, provides cloud-based software for entrepreneurs to create and sell online courses.