2.6 C
London
Monday, February 6, 2023

Hootsuite lays off nearly a third of its workforce as CEO tries to ‘refocus’ – londonbusinessblog.com

Must read

Former aspiring assistant accuses George Santos of ethical violations and sexual harassment

Rep. George Santos, RN.Y., the freshman congressman accused of fabricating key parts of his resume, is accused of ethical violations and sexual harassment...

Google tries to reassure investors about AI’s progress while ChatGPT gives it a breath • londonbusinessblog.com

Google tried to reassure investors and analysts during its quarterly results on Thursday that it is still a leader in AI development. The...

Samooha launches with technology that enables companies to share data securely • londonbusinessblog.com

Samooha, a startup developing a “cross-cloud” data collaboration platform, today announced it has raised $12.5 million in a tranche of funding backed by Altimeter...

Brielle Barbusca- Wiki, age, height, net worth, boyfriend, ethnicity

Brielle Barbara is an American actress best known for her role as the onscreen daughter of Debra Messing in the American blockbuster series The...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

Social media marketing firm Hootsuite says it has cut its workforce by 30%.

“We need to refocus our strategies to drive efficiency, growth and financial sustainability,” CEO Tom Keizer said in a statement to londonbusinessblog.com. The company did not provide details on what exactly is changing in the company. It has not disclosed the specific number of employees affected, nor whether they have been laid off.

However, a June report from the Globe and Mail linked the Vancouver-based company’s workforce to more than 1,400, suggesting that around 400 people were affected by the job losses – the latest in a brutal spate of tech layoffs.

Nearly a month ago, Hootsuite introduced a rebrand for its logo and owl mascot, Owly. (Not to be confused with the other technical owl, Duo).

The social media company has raised more than $300 million in capital per year to date PitchBookand its backers are Fidelity and Accel, the Palo Alto-based VC.

It was rumored that Hootsuite was worth about $1 billion in 2014, but if Pitchbook data turns up anything, Hootsuite was worth about a quarter of a billion less than that figure. in 2019. That year, the company fired 10% of its staff amid reports that it hadn’t sold itself.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Former aspiring assistant accuses George Santos of ethical violations and sexual harassment

Rep. George Santos, RN.Y., the freshman congressman accused of fabricating key parts of his resume, is accused of ethical violations and sexual harassment...

Google tries to reassure investors about AI’s progress while ChatGPT gives it a breath • londonbusinessblog.com

Google tried to reassure investors and analysts during its quarterly results on Thursday that it is still a leader in AI development. The...

Samooha launches with technology that enables companies to share data securely • londonbusinessblog.com

Samooha, a startup developing a “cross-cloud” data collaboration platform, today announced it has raised $12.5 million in a tranche of funding backed by Altimeter...

Brielle Barbusca- Wiki, age, height, net worth, boyfriend, ethnicity

Brielle Barbara is an American actress best known for her role as the onscreen daughter of Debra Messing in the American blockbuster series The...

Elon Musk says bots with “good content” can use Twitter’s API for free

Elon Musk says Twitter will give bots that deliver "good content" free access to the Twitter API. As noted in a post on...