VerticalScope Layoffs
February 2023
VerticalScope announced a layoff affecting 60 employees (22% of its workforce) in February 2023. The company operates in the Media sector.
60
22%
Feb 1, 2023
About
VerticalScope, a Toronto-based digital media company, laid off 60 employees, representing 22% of its workforce, in early February 2023. This downsizing was part of a broader trend of tech sector cutbacks, driven by economic uncertainty and a significant business downturn. The company, which operates over 1,200 enthusiast community websites, reported a sharp decline in fourth-quarter revenue, particularly in e-commerce and digital advertising, prompting a restructuring to prioritize key opportunities and adjust its cost structure.
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