Shopify to cut 20% of its workforce, beats quarterly revenue estimates

Variety
04-05-2023 | 07:46
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Shopify to cut 20% of its workforce, beats quarterly revenue estimates
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Shopify to cut 20% of its workforce, beats quarterly revenue estimates

Canada's Shopify Inc. (SHOP.TO), said on Thursday it would cut 20% of its workforce, marking the Canadian e-commerce company's second round of mass layoffs.

The company also beat Wall Street estimates for first-quarter revenue, sending its US-listed shares up 8% in trading before the bell.

The company posted revenue of $1.51 billion in the quarter ended March 31, compared with analysts' estimate of $1.43 billion, according to Refinitiv data.



Reuters
 

Shopify

Cut

Workforce

Beat

Quarterly

Revenue

Estimate

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