Hootsuite has conducted its third round of layoffs in about six months, laying off 70 more staff today. According to The Logic, the layoffs affect about seven per cent of its staff.
Last year Hootsuite laid off five per cent of its workforce in November and 30 per cent in August as tech firms looked to extend their financial runway in a tightening economy.
Hootsuite also announced that Irina Novoselsky has replaced Tom Keiser as CEO. Novoselsky was most recently the CEO at CareerBuilder.
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. The company has certainly not been alone among BC tech in laying off staff this year.
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