The move comes as a cooling economy has dimmed the prospects for high-growth companies, especially those that benefitted from the shift to e-commerce during the pandemic.
Giants such as Amazon.com Inc. have not been immune from the changing economic picture, either. Earlier this month, Amazon said it had reduced its staffing levels by 100,000 positions by slowing hiring.Vancouver-based Hootsuite said Tuesday’s 30 per cent cut to global staffing would bring its head count to just over 1,000 and was part of an effort to restructure the company.
In an email statement, chief executive Tom Keiser said the move was made as the company refocuses its strategies “to drive efficiency, growth and financial sustainability.”Article content “We want to be very clear this decision is not a reflection on them, or their work. It is indicative of a change to our business that realigns our strategies with the positions we need to be successful,” Keiser said.
Last month, the company announced a rebranding, saying it was time to rethink its “integrated branding strategy to better reflect our position and our direction as the social experts, trusted partners, and joyful mentors.”
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