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Hootsuite lays off dozens of workers: report

Last Updated Apr 30, 2019 at 2:09 pm PDT

(Source: facebook.com/hootsuite)

VANCOUVER (NEWS 1130) – One of Vancouver’s technology stars is now laying off employees.

Hootsuite says there have been “some reductions to our staff,” citing “greater alignment with… strategic priorities.”

The maker of social media management software for corporations will not confirm how many jobs were cut, but it appears to be about 10 per cent of the workforce.

CTV reports over 100 workers have been let go.

Hootsuite says it has about 1,000 employees at locations around the world, but most are in Vancouver.

Most people coming and going from the local headquarters near Main St. and E. 8th Ave. waved NEWS 1130’s reporter off, saying they can’t comment, while others have been asking for privacy because this is a difficult time for them.

The doors at the entrance, which are normally open during business hours are locked with a sign posted saying it will remain locked that’s until further notice.

Bloomberg reported that Hootsuite was exploring a sale for at least $750 million USD last fall. It previously backed away from doing an initial public offering, but in October was said to be still keeping the option for an IPO.