hootsuite laid off nearly a third of its workforce as ceo tries to ‘refocus’

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

“We need to refocus our strategies to drive efficiency, growth and financial sustainability,” CEO Tom Keiser said in a statement sent to TechCrunch. The company offered no specifics on what exactly is changing about the business. It did not disclose the specific number of workers affected. 

However, a June report from the Globe and Mail pegged the Vancouver-based company’s headcount at more than 1,400, suggesting that around 400 people were hit by the job cuts — the latest in a brutal wave of tech layoffs.

Hootsuite has raised more than $300 million in capital to date, per Pitchbook. Its backers include Fidelity, a Boston-based investment firm, and Accel, the Palo Alto-based VC.

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