The State of Tech in Canada
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2022 in Tech - The Great Reshuffle
The latest in Tech and Talent news
🔗LINKEDIN: THE LATEST IN LAYOFFS
Firms that have announced layoffs since the beginning of August include:
Bed Bath & Beyond announced a major restructuring that included cutting 20% of its corporate staff, eliminating its chief operating officer and chief stores officer roles, and closing about 150 stores.
Snap, Snapchat's parent company, announced a 20% cut in staff – about 1,300 employees – as part of a major restructuring for the social media platform.
ShipBob, an E-commerce fulfillment startup backed by Bain Capital Ventures, laid off 7% of staff.
Employees at New York City-based EdTech company Noodle have taken to LinkedIn to discuss "sweeping layoffs."
DataRobot, a Boston-based AI startup that hit a $6.3 billion valuation in 2021, announced a second round of layoffs since May.
Ford confirmed that it is cutting 3,000 salaried and contract workers in the U.S., Canada and India.
Boston-based Wayfair is cutting 870 jobs worldwide as customers shift their spending away from home goods.
Crypto lender Genesis announced its laying off 20% of its workforce amid ongoing turbulence in the cryptocurrency market.
Apple has laid off about 100 contract-based recruiters as it seeks to slow hiring and spending, reports Bloomberg.
HBO and HBO Max laid off 14% of their staff, or 70 employees, following the merger of parent company WarnerMedia and Discovery.
SoulCycle has shuttered a quarter of its cycling studios and cut 75 employees.
Signify Health, a Dallas-based home health services company, is laying off almost 500 workers in four states.
Peloton Interactive cut nearly 800 employees and announced store closures and price increases.
Gannett, the nation's largest newspaper publisher, is laying off dozens of journalists across at least 20 newsrooms.
Citing an "ever-changing macroeconomic environment," Best Buy has cut hundreds of store-based jobs, The Wall Street Journal reports.
Malwarebytes employees are posting on LinkedIn about layoffs at the Bay Area-based cybersecurity firm.
Layoffstracker.com reports 125 people were affected by the cuts.
Meditation app Calm is laying off 20% of its staff, according to an internal memo obtained by The Wall Street Journal.
Warby Parker, an online retailer of prescription glasses, is laying off 63 corporate employees, 2% of its overall workforce and 15% of its corporate staff.
Video game developer Jam City, which has offices across the U.S. and Canada, is laying off about 200 employees.
LinkedIn members shared about staffing cuts made at other companies: real estate tech platform Doma, which also laid off staff in May; cannabis tech Weedmaps; childcare management app brightwheel; analytics software platform Sisu, and payments processor Fiserv.
Walmart is laying off as many as 200 corporate employees in areas such as merchandising and real estate.
Online brokerage Robinhood laid off 23% of its staff in its second round of cuts this year.
Global software giant Oracle is laying off an unspecified number of employees in its U.S. customer experience unit.
July's more high-profile companies making cuts include:
7-Eleven laid off about 880 corporate employees after its $21 billion acquisition of Speedway.
Ford is cutting up to 8,000 jobs, mostly in its gas-fueled vehicle division, anonymous sources told Bloomberg.
Crypto giant OpenSea cut 20% of staff.
Victoria's Secret laid off about 160 managers as part of a restructuring.
Electric carmaker Rivian said it was cutting "hundreds" after conceding it "grew too fast."
Twitter laid off about one-third of its talent acquisition team.
Sept 2022 #TalentMarketTea
A WAVE OF LAYOFFS HIT TECH...
The tech sector has had a tumultuous year. That trouble is now starting to translate into layoffs, with venture capital-backed firms being hit especially hard as investors abandon risky bets and seek immediate returns. So far this week, firms including fintech unicorns Bolt and Klarna and delivery startups Gorillas and Getir have announced workforce cuts. Tech giants such as Netflix and PayPal are also shedding jobs, while Uber, Lyft, Snap and Meta have slowed hiring.
🔗 Tech layoffs top 15K in a brutal May
May 2022 #TalentMarketTea
Toronto, the Quietly Booming Tech Town
For all the excitement around places like Austin and Miami, the biggest tech expansion has been in Canada’s largest city.
March 21, 2022 #TalentMarketTea
KLARNA TO OPEN OFFICES IN TORONTO, VANCOUVER, QUÉBEC AS COMPANY EXPANDS SERVICE TO CANADA
Hiring more than 500 engineers by 2025
Feb 22, 2022 #TalentMarketTea
Jan 18, 2022 #TalentMarketTea
Jan 7 2022 #TalentMarketTea
Jan 2022 #TalentMarketTea
Jan 2022 #TalentMarketTea
I try to keep this page updated monthly - check back often for the latest headlines and Tech Tea!
2021 in Tech - The Great Resignation
The latest in Tech and Talent news
Nov 2021 #TalentMarketTea
Neo Financial is the recipient of a $1.6 million grant from the Province of Manitoba through its Industry Expansion program. The program will support skills training for 300 new employees at Neo’s Winnipeg headquarters.
Nov 2021 #TalentMarketTea
Amazon Web Services (AWS) announced today that they plan to open an infrastructure Region in Alberta in late 2023/early 2024.
AWS also released an economic impact study estimating that the company’s spending on construction and the operation of the new AWS Canada West (Calgary) Region and existing AWS Canada (Central) Region in Montreal will together create more than 5,000 new jobs with an estimated investment of over $17 billion (CA$21 billion) in the local economies by 2037.
Jan 2021 #TalentMarketTea
“As part of the international expansion announcement, Coinbase further committed to being a remote-first company, which means that new hires in Canada and elsewhere will have the option to work anywhere in their country of hire.”
Dec 2020 #TalentMarketTea
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I try to keep this page updated monthly - check back often for the latest headlines and Tech Tea!
2020 in Tech - The Boom Continues...
The latest in Tech and Talent news
Dec 2020 #TalentMarketTea
Salesforce said on Tuesday that it would buy the workplace software company Slack for $27.7 billion in cash and stock, the latest in a wave of deals as the coronavirus pandemic boosts demand for tools that enable people to work remotely.
Other firms focused on workplace collaboration products, including Airtable, Asana, Box, DocuSign, Dropbox and Smartsheet, may also be potential targets as highly valued software companies look to roll up the fragmented market for collaboration tools.
Nov 2020 #TalentMarketTea
General Motors is hiring thousands as it pushes to bring more than 20 new electric vehicles to U.S. roads by 2023.
The automaker will hire 3,000 engineers, designers and technology specialists between now and the end of the first quarter, and most of those people can work remotely, opening up the talent pool across the nation.
“We have a lot of flexibility on where we can draw talent from," said Ken Morris, GM’s vice president of autonomous and electric vehicle programs. "We’re going to look for the best talent we can get and work around whatever situations there are to get that talent.”
#TalentMarketTea
Toronto's tech industry is on fire, as we've all come to know in recent years, with more major international tech firms and startups setting up shop in the city each month. The amount of office space being bought or leased by big tech in Toronto right now tells a powerful story on its own, as does the city's impressive talent pool, but nothing can quite demonstrate the sector's explosive growth like money can.
On Friday afternoon, Toronto Mayor John Tory highlighted a new report on the GTA's tech ecosystem in which it is revealed that a record-breaking $3.1 billion was invested into Toronto tech startups last year alone.
That's up a walloping 68 per cent over the sum of money invested in 2018.
Coming out on top in terms of funding for Toronto-based tech companies last quarter were the financing solution Clearbanc ($300M), password management software 1Password ($265M), POS system provider TouchBistro ($158M), genetic sequencing platform Geneseeq ($114M) and the millenial-targeted online investing platform WealthSimple ($100M).
Feb 2020 #TalentMarketTea
Plans for three new offices in Canada by 2022 will help company accommodate 5,000 employees
Google is upping its Canadian presence with a plan to open three new offices, giving it enough space to accommodate 5,000 employees by 2022.
The tech behemoth revealed Thursday that it will build a trio of new facilities in Montreal at 425 Viger Ave., in Toronto at 65 King Street E. and in the Kitchener and Waterloo area across from its current space on Breithaupt Street.
The Montreal and Toronto offices will replace Google's existing facilities in those cities.
"Google began its business in Canada in 2001, when our office in Toronto was opened with one salesperson," said Ruth Porat, the senior vice-president and chief financial officer at Google, in a blog post released just as she took the stage at Google's current Toronto office to announce the company's plans.
I try to keep this page updated monthly - check back often for the latest headlines and Tech Tea!
2019 in Tech - The Boom!
Toronto has never seen momentum like it’s experiencing right now! In September 2018 alone, the city drew over 1.4 Billion dollars in investment from U.S and Canadian companies, ranging from global tech giants to local start ups...
Here’s some of the top headlines:
1. SAP announces new Canadian HQ in Toronto (click to read more)
2. Microsoft announced new Toronto Office (click to read more)
3. Shopify announces $500 million investment into new Toronto office Sept 2018 (click to read more)
4. Instacart announces expansion in Toronto - hiring 200 Tech workers in the city! Sept 2018 (click to read more)
5. Pinterest, WeWork, Thales, Intel have also expanded into Toronto
2018-2019 Tech Expansion Headlines #TalentMarketTea
The market is officially on fire, and Canada is proving themselves as a heavy-hitter in the global tech ecosystem. The best part? We're just getting started!
#WeTheNorth
Jan 2019 #TalentMarketTea
Talent Talks, and Toronto is getting loud! Shortly after this article, a record breaking 3.1 billion was invested into Toronto Tech start-ups in 2019 - thats 68% more than the previous year. LET'S GO T.O!!!
"For years, Silicon Valley wasn’t the main place many venture capitalists looked for deals — it was the only place. But the Bay Area is beginning to lose its once vice-like grip on talented workers, and its startup investment market is looking dangerously overheated. Now VCs are lifting their gaze from California and scouting for North America’s next tech powerhouses. In Toronto, where I’ve personally worked in tech as an entrepreneur and a VC over the past few decades, there’s a fresh influx of deal-hunting VCs. After years of sluggish growth in venture capital, startups here now routinely raise rounds in the tens of millions. Silicon Valley Bank is expanding here, too. Salesforce Ventures, which already has half its investments outside the Valley, has a new $100-million Canadian fund."
Dec 2018 #TalentMarketTea
"As immigrant techies shun the US, its neighbour has rolled out the red carpet".
"Rising anti-immigrant sentiment under President Donald Trump’s administration did not help. Two years later he thinks he made the right choice. “I didn’t want to spend the best years of my life on a restrictive visa.”
People like Mr Rangnekar are part of an exodus of tech workers from Silicon Valley. Pushed out by the cost of living as well as by a less welcoming American government, they are being pulled in by countries such as Canada, where tech vacancies are forecast to reach 200,000 by 2020. Canada is gambling that by the time America wakes up to the cost of discouraging immigrants its tech sector will have secured some of the best talent."
I try to keep this page updated monthly - check back often for the latest headlines and Tech Tea!