Social media advertising and marketing agency Hootsuite says it has slashed its workforce by 30%.
“We want to refocus our methods to drive effectivity, development and monetary sustainability,” CEO Tom Keiser stated in a assertion despatched to TechCrunch. The firm provided no specifics on what precisely is altering in regards to the enterprise. It didn’t disclose the precise quantity of staff affected, nor wouldn’t it say in the event that they obtained any severance.
However, a June report from the Globe and Mail pegged the Vancouver-based firm’s headcount at greater than 1,400, suggesting that round 400 individuals have been hit by the job cuts — the newest in a brutal wave of tech layoffs.
Nearly a month in the past, Hootsuite rolled out a rebrand for its brand and owl mascot, Owly. (Not to be confused with the opposite tech owl, Duo).
The social media agency has raised greater than $300 million in capital to date, per PitchBook, and its backers embrace Fidelity and Accel, the Palo Alto–primarily based VC.
Hootsuite was rumored to be price round $1 billion again in 2014, but when Pitchbook information is something to go by, Hootsuite was price about a quarter of a billion lower than that determine in 2019. That 12 months, the corporate laid off 10% of its employees amid experiences that it had failed to promote itself.
https://techcrunch.com/2022/08/09/hootsuite-laid-off-nearly-a-third-of-its-workforce-as-ceo-tries-to-refocus/
