EducationCA

Thinkific Layoffs

January 2023

Thinkific announced a layoff affecting 76 employees (19% of its workforce) in January 2023. The company operates in the Education sector.

People Affected

Percentage

19%

Announced Date

Jan 10, 2023

About

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.