Shopify Lays Off 1,000 Employees Amid Shifting Retail Trends

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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