Shopify lays off one in 10 employees as bet on post-pandemic growth backfires

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Canadian ecommerce firm Shopify is set to lay off approximately 1,000 employees after founder and CEO Tobi Lütke said the business made the ‘wrong’ bet on the long-term growth of online retail post-pandemic.

Shopify will primarily cut roles across recruiting, support and sales, but Lütke said some “over-specialised and duplicate roles” and roles that were “too far removed from building products” would also be affected.

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