Shopify cutting 20 percent of workforce ...Middle East

The Hill - Technology
Shopify cutting 20 percent of workforce
source : The Hill ( Middle East ) () 37
Shopify, the online retail giant, announced Thursday that it is cutting its workforce by around 20 percent, even as it reported strong revenue numbers that beat Wall Street estimates for the first quarter of the year. Shopify CEO Tobi Lütke revealed the cuts to the company in a memo on its website, but did not specify what positions would be affected. “It’s the right thing for Shopify but it negatively affects many team members who we admire and love working with,” he said in the statement. “This is one of those times where both right and hard are true at the same time.” The workforce cuts from Shopify follow a string of similar moves in the tech industry, with mammoths including

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