2023 has had a rough start to the more than 1,000 Canadians affected by layoffs announced by Canadian and American companies this month. There have also been more unannounced layoffs reported by the media.
Most of the announced cuts have been among tech companies, following an early wave of downsizing and restructuring announcements in the second half of 2022 by big players like Meta, Amazon and Lyft.
Layoffs.fyi, a layoff tracker launched by entrepreneur Roger Lee during the COVID-19 pandemic, estimates that 155,126 tech jobs will be lost worldwide in 2022, with another 55,324 after early 2023. People are reporting job losses.
Here are some of the mass layoffs that have affected Canadians so far in 2023.
Hudson’s Bay Company
Hudson’s Bay Company confirmed to the Canadian Press this week that it plans to furlough 2% of its workforce, or an estimated 250 employees.
The Canadian Press reports that the layoffs will have a major impact on the role of Canadian companies in The Bay and Hudson’s Bay.
Less than a week after newspaper Postmedia Network Corp. said it was grappling with an “economic contraction,” the Canadian Press reported that it would lay off 11% of its editorial staff.
Post Media employees were reportedly told of the layoffs at a town hall meeting Tuesday afternoon.
In an audio recording of that meeting obtained by Canadian Press, Jerry Knott, senior vice president of editorial content, said the cut was for all of the company’s publications, with the exception of Brunswick News and Postmedia Editorial Services. Said it would affect things. Downsized.
Postmedia owns publications across Canada, including the National Post, the Vancouver Sun and the Calgary Herald, and employs approximately 650 journalists.
Canadian law firm Samfiru Tumarkin LLP reports that American business software company Salesforce plans to lay off 10% of its workforce. Canadian startup news website Betakit reports that some of these layoffs affect Canadians, but does not disclose how many.
Canadian tech company Benevity announced in a Jan. 18 notice to employees that it will cut 137 jobs, or 14% of its workforce.
CEO Kelly Schmitt explained that the company is currently “overbuilt for current market conditions” and has been forced to cut jobs.
“We have always run our company for growth, both maximizing the social impact we can drive as an early B Corp and responding to the market opportunities at hand,” she said. I am writing this in a notice to staff.
“In response to that demand, we have significantly increased the size of our team, but the dramatic shift in macroeconomic conditions over the past nine months has significantly slowed the expected demand.”
In a memo to employees issued Jan. 4, Amazon CEO Andy Jassy announced that the company would be scrapping its next round of jobs following massive layoffs in November. Between the two layoffs, the company plans to cut 18,000 jobs.
Jassy said the majority of the layoffs will be in Amazon stores and the PXT organization, but did not specify how many, if any, Canadians would be affected.
“These changes will help us pursue long-term opportunities with a stronger cost structure,” he wrote.
These Canadian companies are also cutting jobs this month, according to Layoffs.fyi.
- Montreal-based Lightspeed Commerce laid off 10% of its workforce, or 300 employees.
- Canadian online car retailer Clutch laid off 148 employees. Betakit.com reports about 65% of the company’s staff.
- Vancouver-based software company Thinkific laid off 76 employees, or 19% of its workforce.
- Hootsuite, a social media marketing software company, laid off 70 employees, or 7% of its workforce.
- Toronto-based delivery startup GoBolt laid off 55 employees, or 5% of its workforce.
- Canadian financial firm Clearco laid off 30% of its workforce, or 50 employees.
- Toronto-based software company PartnerStack laid off about 20% of its workforce.
— Using files from The Canadian Press