Shopify Layoffs News Today

A class-action lawsuit alleges Shopify Inc. reneged on a deal it offered some employees who were laid off in a recent round of cuts.

Layoffs 2023: The Israeli web analytics company which creates measurement tools for analysing web behaviour and traffic analytics, headquartered in Tel Aviv, saw its cash and cash equivalents fall to $75.3 million at the end of March, the company said in its earnings report. Shopify, the e-commerce platform, has announced to lay off 20 per cent of its workforce which will impact more than 2,000 people., Companies News, Times Now

Shopify also announced that the American multinational corporation Flexport will buy Shopify Logistics.

Shopify CEO Tobi Lutke announced that the company will sell most of its logistics business to the supply-chain technology company Flexport

InvestorPlace - Stock Market News, Stock Advice & Trading Tips Shopify (SHOP) layoffs are on the way as the e-commerce company reveals plans to cut its…

Some investors say its stock is poised to outperform peers over the course of 2023 as those job cuts translate into lower costs, narrower losses and better cash flow

Its shares tumbled 14.7% on the US bourses and on the Toronto Exchange, they shed 14% on Tuesday, pulling Canada's wider main stock index lower.