Shopify to reduce workforce by 20 per cent and sell logistics business

But achieving that feat means reducing "side quests" which chief executive Tobi Lutke described as "always distracting because the company has to split focus."

Lutke's note did not quantify how many staff would be departing the company, but before Shopify laid off about 1,000 workers last summer it had roughly 10,000 employees. Lutke promised departing staff at least 16 weeks of severance plus a week for every year of tenure at Shopify. Medical benefits and an employee assistance program will cover departing staff over the same period.

In addition to the staff departures, his note announced the sale of Shopify Logistics, which it marketed as a way for merchants to get products "from port to porch."

Malaysia Malaysia Latest News, Malaysia Malaysia 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 »

Shopify to reduce workforce by 20 per cent, sell logistics businessShopify 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: CP24 - 🏆 30. / 67 Read more »

Shopify to reduce workforce by 20%, sell logistics businessThe Ottawa\u002Dbased e\u002Dcommerce company positioned the moves as a way to help it focus on its main quest to make commerce easier.
Source: TheTorontoSun - 🏆 23. / 68 Read more »