This week, Hootsuite let go of a few more staff.
“Today, Hootsuite made the difficult decision to go through another round of layoffs, and unfortunately I was affected,” a former product manager for the Vancouver company revealed on LinkedIn earlier this week.
A Hootsuite spokesperson informed Daily Hive that roughly 5% of staff were cut. The rep stated that Hootsuite is reflecting on itself and clarifying its focus, as well as looking to remove redundancy throughout the hierarchy.
In August, the freshly rebranded firm slashed 30% of employees.
“It is indicative of a change to our business that realigns our strategies with the positions we need to be successful,” CEO Tom Keiser stated at the time, citing a need for “strategies to drive efficiency, growth, and financial sustainability.”
The richly storied Hootsuite was founded in 2008 and has since faced its share of ups and downs. Whilst troubled in prior years—IPO speculation has come and go multiple times now—Hootsuite appeared to enter 2022 with momentum.
However, the firm’s big rebrand fell flat when headwind hit soon after.
Hootsuite is proof that it is difficult to defy “current economic and market realities,” as the company spokesperson worded the situation to DH. The company has certainly not been alone among BC tech in laying off staff this year.