Shopify is laying off 20% of its workforce

The company is focusing on "main quests" and cutting back on what it dubs inefficient "side quests."

TRENDING Shopify to reduce workforce by 20%, sells logistics business to Flexport for 13% equity by Paul Sawers Shopify revealed today that it's laying off 20% of its workforce, impacting more than 2,000 people, and is selling its logistics business to Flexport for roughly 13% in stock. The news comes some 10 months after Shopify announced that it was reducing 10% of its workforce — roughly 1,000 people — and follows a trend that has seen many big technology companies engage in several rounds of redundancies in response to economic headwinds. In a blog post today, Tobias Lütke refers to "main quests" and "side quests," the former being the company's core raison d'être which is what it's best known for — e-commerce software for online retailers. However, shipping and logistics always goes hand-in-hand with e-commerce, which is why Shopify has been building up that side of its business too. READ MORE More News Slack updates aim to put AI at the center of the user experience Ransomware attack forces Dallas to shut down courts, disrupts some 911 services Microsoft doubles down on AI with new Bing features View this email online in your browser Privacy Policy | Terms of Service | Unsubscribe © 2023 Yahoo. All rights reserved. 110 5th St, San Francisco, CA 94103

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