In a memo to its more than 11,000 staff, company founder and chief executive Tobias Lutke said: "We are changing the shape of Shopify significantly today to pay unshared attention to our mission."
Lutke, who launched the online platform in 2006, said the company should focus on its core mission of e-commerce. Shopify's plunge into transporting and warehousing, and cross docking its e-commerce clients' goods in recent years mirrored similar moves by rivals. All of them expected that a boom in demand through the pandemic would last.
Shopify initially responded by slashing its workforce by 10 percent in July 2022 and trimming its operations.
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: