Top Hat Layoffs

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Toronto-based EdTech company Top Hat laid off 35 employees on January 30, 2024, as part of a strategic push to become a "self-sustaining business" in its upcoming fiscal year. This represents approximately 7% of its workforce, which currently stands at 498 employees. The layoffs, based on business priorities rather than individual performance, mark the second round of downsizing for the online education firm in the past year, following a cut of 42 employees in August 2023. This move occurs amid a broader trend of Canadian tech layoffs in early 2024, as companies like Loopio and Wattpad also reduced staff to refocus on profitability in uncertain economic conditions.

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