Shopify lays off staff, but hasn’t cut back on marketing, advertising and R&D costs

August 11, 2022 9:37

Shopify made headlines last month when it announced it would layoff 10% of its workforce – a move which saw shares sink 14%, ex-employees publicly scoring new roles, and mediocre Q2 earnings.

Shopify, a Canadian ecommerce platform that offers solutions for small businesses to sell goods and services online, had more than 10,000 employees as at Dec. 31 2021, according to a securities filing.

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Seja Al Zaidi

Seja Al Zaidi was Mumbrella’s finance reporter, spearheading the publication’s coverage on the financials of advertising, marketing and media sectors.

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