Tag: citing
Loop Energy lays off majority of staff, citing challenging capital market conditions
Hydrogen fuel cell firm terminates 84 employees, shuts China office. Hydrogen fuel cell company Loop Energy (TSX: LPEN) is laying off 65 percent of…
Online vehicle retailer E Inc. to delist from TSX citing limited trading volumes
E Inc. expects to delist from the TSX on May 24. Toronto-based E Automotive (E Inc.), an online vehicle auction marketplace, is delisting its…
Shopify CTO Allan Leinwand to depart company, citing “personal reasons”
CEO Tobi Lütke to also lead R&D as Shopify loses third C-Suite exec since October. Shopify CTO Allan Leinwand is leaving the Ottawa-based e-commerce…
GoBolt lays off five percent of staff shortly after $75 million raise, citing worsening consumer demand
With cuts, GoBolt shifts focus away from SMBs to mid-market, enterprise merchants. Toronto-based delivery startup GoBolt has laid off 55 employees, becoming the latest…
Introhive cuts 16 percent of workforce citing market conditions
CEO said the current environment makes it challenging to fund Introhive’s high-growth strategy. Fredericton-based Introhive has made cuts to its employee base, joining a…
Clutch cuts staff to extend runway, citing market conditions
The layoffs follow a $100 million Series B secured in 2021. Online car retailer Clutch has laid off a significant portion of its employee…
Bonsai lays off a third of employees shortly after $21 million Series A, citing shift to growth strategy
CEO says the move is about restructuring to focus on customer acquisition. Embedded commerce startup Bonsai has laid off 29 employees (about 34 percent…