Shopify to lay off over 2000 employees, sells logistics business to Flexport for 13% equity

Shopify is laying off 20% of its workforce, that is, more than 2,000 people.

Shopify is also selling its logistics business to Flexport for roughly 13% in stock.

10 months earlier, Shopify announced that it was reducing 10% of its workforce, roughly 1,000 people.

Shopify’s own website says it has more than 11,600 employees. Today’s news likely impacts in the region of 2,300 workers.

Shopify says impacted staff will receive a minimum of 16 weeks severance pay, plus an additional week for every year served at Shopify. They will also receive medical benefits for that same duration.

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