The layoffs that impacted Vancouver’s tech scene in 2022 so far

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So far in 2022, nearly 1,000 people in the tech sector have lost their jobs due to layoffs.

Vancouver is known as one of North America’s top tech hubs, and while other parts of Canada and the world also faced layoffs, it was an unfortunate year for many employees at the town.

These are the major layoffs that have impacted Vancouver so far in 2022, with more likely to happen before the end of the year.

Hoot Suite

Vancouver-based social media management company Hootsuite was the most recent company to announce layoffs.

Layoffs were announced on August 9, which amounted to a 30% reduction in staff, and BetaKit reported that this amounted to around 400 employees. Some of these personnel were employed in other parts of the world.

“We have announced internally that we have made the difficult decision to restructure the business and reduce our global workforce by 30%. This unfortunately means we are saying goodbye to some of our employees,” said Hootsuite CEO Tom Keizer.

“These people are our colleagues and our friends. They are among the best in their fields and we will do everything we can to help them land elsewhere.

Article

On August 4, Vancouver-based online furniture store Article announced that the layoffs would cut its staff by 17%, or 216 employees.

“This is a first in Article’s 11-year history, and for me personally in my 22 years leading teams and organizations,” said Article CEO Aamir Baig.

“Team – it’s not your fault, it’s my fault.”

Undo Bounce

Canadian software company Unbounce produces landing pages for websites. It also hosts the annual Call to Action conference.

On August 3, Unbounce announced layoffs that affected 47 employees. The layoffs were part of a “restructuring and downsizing”.

Unbounce blamed a turbulent economy for the move.

Thoughtful

After a “rigorous review” of its organizational structure, Vancouver-based Thinkific announced layoffs earlier this year in March.

A hundred employees were laid off.

“We have grown from 270 at the end of the first quarter of 2021 to 499 today and have concluded, following a rigorous review of our organizational structure, that with a reduction of 100 in our workforce, we could increase the efficiency and reduce costs without affecting our growth trajectory,” said Mr. Greg Smith, co-founder and CEO of Thinkific.

zymeworks

In January, BiopharmaDive reported that Vancouver-based cancer biotech company Zymeworks was laying off more than 100 employees as part of a corporate restructuring.

Vancouver is still one of North America’s top tech hubs

Despite the layoffs that have taken place in the city this year, Vancouver is considered one of the leading technology centers in North America, behind only Toronto and Seattle when it comes to high tech job growth.

Low operating costs contribute to the allure as a technology hub. Vancouver had the fourth the lowest operating costs of the top 30 technologies markets identified by CBRE,” reads a statement from a report by the Downtown Vancouver Business Improvement Association.

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