Hootsuite cutting 30% of workers amid flurry of tech layoffs

More jobs are on the chopping block in the Canadian tech sector. Vancouver-based Hootsuite announced that it is laying off 30 per cent of its workforce as part of a global restructuring.

In a LinkedIn post on August 9, 2022, CEO Tom Keiser said the decision is “indicative of the necessary changes we’ve had to make for our business.”

The Canadian social media company did not disclose the specific number of workers affected by the cuts. However, financial data firm Refinitiv claims that Hootsuite currently employs approximately 1,000 people.

Recent tech sector layoffs

Hootsuite is the latest in a growing list of Canadian tech companies that have announced significant layoffs:

• Shopify is cutting 10 per cent of its workforce after the e-commerce giant said it misjudged the growth of e-commerce during the COVID-19 pandemic.
• Clearco is shedding a quarter of its staff after the e-commerce investing platform claimed that it increased its headcount “too quickly in anticipation of continued economic growth.”
• Unbounce is laying off 20 per cent of its workforce as the landing page platform continues to monitor the current economic environment.
• Article is trimming its headcount by 17 per cent as the online furniture company grapples with a slowdown in e-commerce demand.
• Wealthsimple laid off 13 per cent of its workforce as the financial technology company responds to a downturn in the global tech sector.

LEARN MORE
• Employment lawyer on mass layoffs in the tech industry
• Layoffs in Canada

Termination agreements for Hootsuite employees

Employees and senior executives at Hootsuite are owed full severance pay when they lose their jobs due to downsizing or corporate restructuring. Severance can be as much as 24 months’ pay, depending on a number of factors.

READ MORE
• Severance packages in mass layoffs
• Severance for technology industry employees

WATCH: Employment lawyer Lior Samfiru explains why you are still owed severance if you have been downsized on an episode of the Employment Law Show.

Before you accept any severance offer, have an experienced employment lawyer at Samfiru Tumarkin LLP review it and your employment contract. We can tell you if what you have been provided is fair and how to get proper compensation if it falls short of what you are actually owed.

If you aren’t given the full amount (which happens often) you have been wrongfully dismissed and are entitled to compensation.