Social media firm Hootsuite became the latest tech firm to announce layoffs, when it confirmed Wednesday its third round of job cuts since August, while also replacing its chief executive.
In addition to laying off 7% of its workforce, Hootsuite also confirmed Wednesday that Irina Novoselsky is taking over immediately as the company's CEO. She held the same role at CarreerBuilder. Photo courtesy of Hootsuite
Jan. 19 (UPI) -- Social media management platform Hootsuite became the latest tech firm to announce layoffs, when it confirmed Wednesday its third round of job cuts since August while also replacing its chief executive.
Irina Novoselsky is taking over as CEO from Tom Keiser, who had held the job at the Vancouver-based company since 2020, the company said in a statement.
The new layoffs affect around 70 people, or 7%, of the company's workforce.
Novoselsky most recently served as CEO of CareerBuilder, an international employment website based in Chicago.
She did not touch on the workforce reduction in her opening address to the company's employees, maintaining a positive tone.
"Social media management is a largely untapped and growing $28 billion global market opportunity. I'm eager to partner with the talented team at Hootsuite to continue to delight our customers and deliver the products and services they need to successfully navigate the world of social," Novoselsky said in a statement.
Hootsuite did not specify which positions were eliminated.
The company reduced its staff by 400 employees in August, which amounted to 30% of its overall workforce. That was followed by another round of layoffs in November, or about 5% of its workforce.
Thursday's announcement follows a string of negative employment news across the tech sector.
Microsoft cautioned employees Wednesday the Washington state-based conglomerate expects to layoff 10,000 employees by the end of third quarter.
Amazon said earlier in the month it estimates it will cut 18,000 jobs from its global workforce.
Around the same time, Cloud-based software firm Salesforce said cuts to its staff would total around 10%, or 7,000 positions, because of economic downturn.
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