From launching its “next phase of growth” to trimming staff within two months: Unbounce is the latest technology company in Canada to face sudden layoffs in the midst of a global downturn.
“Today we said goodbye to 47 talented people as part of a company-wide restructure across the Unbounce and LeadsRx teams,” wrote chief executive officer Felicia Bochicchio on LinkedIn, an amount equalling roughly 20% of the Vancouver-based firm’s headcount.
LeadsRx was acquired by Unbounce late last year.
“For a close-knit team like ours, this news is particularly difficult,” Bochicchio said. ‘The people leaving us today are not just our teammates but our friends.”
Bochicchio says Unbounce has experienced “headwinds” this year, a term shared by Andrew D’Souza and Dragon’s Den investor Michele Romanow, whose Toronto fintech Clearco recently trimmed a quarter of its workforce despite hiring as recently as a couple of months ago.
“Significant headwinds” were cited as a cause.
In May, Unbounce welcomed three new executives to its team to support what it described as its “next phase of growth.”
“These new leaders intimately understand how to build successful SaaS businesses and teams,” Bochicchio noted at the time. “Their combined talent and proven experience … will work to cement Unbounce as the leading conversion intelligence platform for marketers.”
More than 140,000 businesses in over 120 countries use Unbounce to fuel their leads and sales using landing pages, copy creation, and marketing attribution. However, the global market has shifted abruptly.
“We have had to make adjustments to our business and invest with greater discipline and focus,” Bochicchio stated. “As difficult as this decision was to make, it was necessary in order to support Unbounce’s purpose and strategy.”
Bochicchio said she was “immensely grateful” for all the “ambitious, empathetic and successful people” Unbounce was forced to let go of.