CEO Tom Keiser says the move will help the company to realign itself with strategies that can make it successful
Hootsuite Inc. said Tuesday it will lay off 30 per cent of its staff as part of a global restructuring.
"Today is a hard day at Hootsuite...This sadly means we are saying goodbye to some of our people," said Hootsuite CEO Tom Keiser, in a statement. He added that the move will help the company once considered a darling in Canada's tech scene to realign itself with strategies that can make it successful. In particular, he said Hootsuite needs to refocus, so it can drive efficiency, growth and financial sustainability.
Hootsuite's cuts come as tech companies have conducted similar layoffs in recent weeks as investor interest in tech stocks has faded.
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