Hootsuite announces third round of layoffs; 70 employees affected

Hootsuite Inc. announced its third round of job cuts since August on Wednesday, as the company also moves to change its chief executive.

The Vancouver-based social media technology company said in an email to BNN Bloomberg that the latest round of layoffs has affected 70 employees, or around seven per cent of its staff. 

“It was a difficult decision to make but these reductions to our global workforce will best position Hootsuite for the long term,” the company said. 

In August, the company eliminated 30 per cent of its workforce as part of a global restructuring initiative. In November, Hootsuite laid off five per cent of its staff.