Shopify Lays Off 1,000 Employees Amid Shifting Retail Trends
For more crisp and insightful business and economic news, subscribe to The Daily Upside newsletter. It's completely free and we guarantee you'll learn something new every day.
The pandemic was supposed to impact consumer habits with the force of a giant asteroid. Instead, it may be something closer to a small stone skipping across water and spurring a few ripples. For proof, look no further than Shopify.
The site, which helps companies launch e-commerce portals, is laying off 1,000 employees (about 10% of its workforce), according to an internal memo seen by The Wall Street Journal and confirmed by the company on Tuesday. Leadership is blaming a return to old shopping habits -- and themselves.
Source Fool.com
