Hootsuite lays off another five percent of employees
The company reduced its headcount by an estimated 50 workers.
(Credit: Wes Hicks)
Social media and marketing company Hootsuite has laid off five percent of its employees, Vancouver Tech Journal has learned. Clovis Fowo, a former product manager that was let go from the company, posted the news earlier today on LinkedIn.
“In my time there, I met incredible people, partnered with my peers to solve real customer problems, and thoroughly enjoyed each day,” he shared.
A Hootsuite spokesperson confirmed the news with Vancouver Tech Journal, sharing the following statement: “As we navigate the current economic and market realities, we are closely monitoring to ensure that the size and costs of our organization fit the size of our business today. As we clarify our customer focus and priorities, and reflect on our organization, it is clear that we have some areas of duplication, reduced or slowed demand, and layers of management that we are addressing which will unfortunately result in approximately five percent of our employees leaving the business.”
The news comes two months after the company shed 30 percent of its global workforce. At the time, a Hootsuite spokesperson said that post-cuts, its employee base would sit at approximately 1,000 people. By this math, the company reduced its headcount by 50 workers today.
The global tech sector is in the midst of a period of turbulence due to macroeconomic factors, with even multi-billion dollar tech giants like Meta and Snapchat experiencing steep declines in stock price value over recent weeks. As Vancouver Tech Journal has previously reported, Canadian firms have not been immune to this turmoil.