Shopify Cuts 1,000 Jobs After Business Declines As Consumers Turn to Retail Stores

  • Shopify is cutting roughly 1,000 workers, or 10% of its global workforce, rolling back a bet on e-commerce growth the technology company made during the pandemic.
  • Shopify CEO Tobi Lütke Said the layoffs are necessary as consumers resume old shopping habits and pull back on the online orders. The company has warned that it expects revenue growth to slow this year.