Thousands of employees at the billionaire company Shopify have lost their jobs. On the same day that the German-American star founder Tobi Lütke announced his number of quarts.
The listed US company Shopify, which turns over billions with a modular system for online shops, today announced massive staff cuts. Like the tech company rolled into one blog entry writes, CEO Tobi Lütke has cut 20 percent of the jobs. It was not clear how many people were specifically affected. According to the company’s website, Shopify currently has 10,000 employees worldwide. According to this, 2,000 people would be affected.
Contributions from those affected, including numerous German employees, are increasing on the LinkedIn career portal. It is not yet possible to say how big the cut in Germany is. Shopify itself doesn’t provide any information about which departments will be cut. According to the Linkedin posts, however, there are cuts in various areas.
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Reason for mass layoffs: Logistics division sold
The US company announced its business figures for the first quarter of 2023 on Thursday. And: Shopify has sold its logistics division to Flexport, a billion-dollar freight forwarding company from San Francisco. “That means some of you have to leave Shopify today,” Lütke wrote in one Brief to the team, which was later released. Shareholders seemed impressed by the numbers and the news as the stock rose 17 percent for the day.
The software company already laid off ten percent, and thus 1,000 employees, last summer – one day before the quarterly figures were announced. At the time, CEO Lütke cited a slump in sales growth as the reason.
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