News Formal

Shopify to cut 20% of global work force, sell logistics operations

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 92%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Chief executive officer Tobias Lutke will outline the job cuts in a memo to staff ahead of the company’s quarterly earnings report

Ottawa-based Shopify Inc. is terminating around 20 per cent of the e-commerce company’s global work force and is selling its entire logistics operations to San Francisco-based Flexport Inc.

Shopify will tell staffers about the cuts in a memo from chief executive officer Tobias Lutke on Thursday morning, ahead of the company’s quarterly earnings report, according to a senior source familiar with the situation. The Globe and Mail is not identifying the source because they were not authorized to discuss the matter publicly.

“Shopify’s main quest is to make commerce simpler, easier, more democratized, more participatory, and more common. I think that we have built the best commerce platform in the world for that,” Mr. Lutke says in the memo.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Shopify to reduce workforce by 20%, sell logistics business - BNN BloombergShopify Inc. says it will reduce its head count by about 20 per cent and sell its logistics business to Flexport, a supply chain management company.
Source: BNNBloomberg - 🏆 83. / 50 Read more »