INVALID URL: Shopify to lay off 10% (~1000) of staff

Key takeaways:

* Shopify cutting ~1000 workers: most of the layoffs will occur in recruiting, support and sales units

* First big layoffs the company has announced since Mr. Lütke started the company in 2006.

* Shopify’s shares fall 15% to about $31

* Tobi Lütke: "It’s now clear that bet (that surging e-commerce sales growth would last past the Covid-19 pandemic’s ebb) didn’t pay off... I got this wrong"

* Laid off workers to be offered 16 weeks of severance to the laid-off workers, plus one week for every year of service

Actual discussion here: https://news.ycombinator.com/item?id=32237574