Top Hat Layoffs
May 2020
Top Hat announced a layoff affecting 16 employees (3% of its workforce) in May 2020. The company operates in the Education sector.
16
3%
May 12, 2020
About
Canadian EdTech company Top Hat has laid off 16 employees, representing 3% of its total workforce, as part of an internal restructuring to adapt to changes in the higher education sector accelerated by the COVID-19 pandemic. The layoffs, which occurred in the revenue team, follow a $72 million Series D funding round three months prior. CEO Mike Silagadze explained that the shift is not a cost-cutting measure but a strategic pivot, as the pandemic disrupted traditional sales outreach to university professors—their core customers. With professors harder to reach, Top Hat is reallocating resources toward digital content and enterprise institutional sales, moving 28 employees to these areas. The company emphasizes that this restructuring reflects an evolved go-to-market strategy to ensure long-term success in a transformed educational landscape.
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