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

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BREAKING: Shopify to reduce workforce by 20 per cent, sell logistics business

The Ottawa-based e-commerce company positioned the moves as a way to help it focus on its main quest to make commerce easier.did not quantify how many staff would be departing the company, but before Shopify laid off about 1,000 staff last summer it had roughly 10,000 employees.Lutke says the company has also decided to sell Shopify Logistics to Flexport to help the business become more ambitious and global in nature.

Under the terms of the agreement, Shopify will receive stock representing a 13 per cent stake in Flexport and the ability to name a director to Flexport's board.

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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 »