Report: Canadian video software company Vidyard slashes 20% of staff

Grappling with slowing demand, Vidyard is reportedly scaling back its staffing levels.

According to JustLayoffs.com, the Kitchener-based video software company has cut approximately 20 per cent of its workforce.

The report claims that Vidyard hired more people than it needed — expecting the strong demand it experienced during the COVID-19 pandemic to continue.

Several laid-off employees have contacted Samfiru Tumarkin LLP. Our experienced employment lawyers are following up with affected staff to better understand the situation.

Vidyard employs a total workforce of more than 300 people, according to the company’s website.

Major tech layoffs continue

The reduction at Vidyard comes amid a flurry of tech sector layoffs in 2023.

Several North American companies, including Amazon, Ubisoft, Bungie, Splunk, Faire, Nokia, LinkedIn, and Google, have announced deep job cuts as they continue to navigate challenging economic conditions.

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Termination agreements for Vidyard employees

In Canada, non-unionized employees at Vidyard are owed full severance pay when they lose their jobs due to downsizing, corporate restructuring, or the closure of the business.

This includes individuals working full-time, part-time, or hourly in Ontario, Alberta, and B.C.

People working “on contract” or as a contractor may also be owed severance pay — given that many employees in Canada are often misclassified as independent contractors.

Severance can be as much as 24 months’ pay, depending on a number of factors.

LEARN MORE
• Severance pay for tech industry workers
• Rights to severance for provincially regulated employees
• Severance entitlements during mass layoffs

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 severance if it falls short of what you are actually owed.

If you don’t receive the full amount, which happens often, you have been wrongfully dismissed and are entitled to compensation.

In some cases, employers pressure staff into accepting poor severance packages, such as imposing a deadline for accepting the offer.

Non-unionized employees in Canada have up to two years from the date of their dismissal to pursue a claim for full severance pay.