Truiloo Layoffs
September 2022
Truiloo announced a layoff affecting 24 employees (5% of its workforce) in September 2022. The company operates in the Security sector.
24
5%
Sep 23, 2022
About
Vancouver-based identity verification unicorn Trulioo has laid off 24 employees in Canada this month, with global staff reductions expected to reach 40 to 50 people. This represents five to 10 percent of its workforce, which stood at about 400 prior to the cuts. The layoffs are a strategic repositioning, as the company has decided to stop selling to small businesses—a segment that accounted for less than 3% of revenue but consumed an estimated 50% of go-to-market resources. Trulioo will now concentrate its efforts on serving medium and large enterprises operating internationally. CEO Steve Munford described this as a one-time move to streamline operations for growth. The fintech and identity verification firm, valued at $2 billion, is navigating a challenging economic climate that has impacted many tech companies.
Source
View Sourcebetakit.comMore Security Layoffs
Report an Error
If you find incorrect information, please let us know so we can correct it.
support@layoffs.nl