Calgary tech firm Benevity lays off 137 workers, cites poor market conditions

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 99%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

A Calgary tech company says weak market conditions are to blame for its decision to lay off 14 per cent of its workforce this week.

Benevity, a company that provides transaction processing services for charitable campaigns, announced the news on Wednesday, saying that a previous decision to "significantly increase" its workforce may have been premature.

"With that, we have made the difficult decision to reduce the size of our team by 14 per cent, and today we are saying goodbye to 137 passionate Benevity-ites in the process. Schmitt says each employee who is being laid off will be meeting with senior leaders to discuss transition options. She says those workers will be offered extended health benefits, career transition support, ownership of company laptops and "generous severance" packages.

In a statement, economic development and innovation critic Deron Bilous said the news is difficult to hear in the midst of the affordability crisis.

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:

 /  🏆 1. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

The same industry that is supposed to be our savior?

My TV programming told me Elon was a bad man for laying off tech staff before everyone else started to.

Singapore Singapore Latest News, Singapore Singapore Headlines

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

Calgary-based tech company Benevity announces mass layoffsWednesday saw layoffs of 137 staff members, representing 14 per cent of the company\u0027s workforce
Source: calgaryherald - 🏆 64. / 52 Read more »

Calgary-based tech company Benevity to lay off 14 per cent of its workforceWednesday saw layoffs of 137 staff members, representing 14 per cent of the company\u0027s workforce The new ceo bloated the company during the last two years, hired unqualified execs and thus led to this. There is no accountability in corporate Canada.
Source: calgarysun - 🏆 63. / 52 Read more »

Calgary-based tech company Benevity announces mass layoffsWednesday saw layoffs of 137 staff members, representing 14 per cent of the company\u0027s workforce
Source: calgaryherald - 🏆 64. / 52 Read more »

Calgary-based tech company Benevity to lay off 14 per cent of its workforceWednesday saw layoffs of 137 staff members, representing 14 per cent of the company\u0027s workforce
Source: calgarysun - 🏆 63. / 52 Read more »