Canadian tech company Hootsuite laying off 30% of staff

Vancouver-based social media company Hootsuite Inc. is laying off 30 per cent of its staff, the latest company to announce layoffs during a current surge in cutbacks in the tech sector.

"It is indicative of a change to our business that realigns our strategies with the positions we need to be successful," CEO Tom Keisersaid in a statement.

"We need to refocus our strategies to drive efficiency, growth and financial sustainability."

According to financial data firm Refinitiv,the company currently employs about 1,000 people.

The layoffs are the latest in a wave of pink slips in Canadian tech.

Earlier this summer, WealthSimplelaid off 13 per cent of its staff, followed by Ottawa-based Shopifylaying off 10 per cent a few weeks later.

Vancouver-basedUnbounce laid off 20 per cent of its staff earlier this week, followed by e-commerce seller Article announcing it would also be reducing its head count by about one-sixth.