Shopify stock sinks 15% after company says it will lay off 10% of workers - CNBC

In a memo to staff, Shopify CEO Tobi Lutke acknowledged he had misjudged how long the pandemic-driven e-commerce boom would last.

Shopify is laying off roughly 1,000 workers, or around 10% of its global workforce, the company announced Tuesday. Shares of Shopify sank more than 16% following the announcement. In a memo to staf… [+2291 chars]

full article...