Shopify Inc. is cutting jobs for the second time in 10 months and selling the majority of its logistics business to Flexport Inc. to focus on its core e-commerce platform business.
The moves mean the company will shrink by more than 2,000 people. “I don’t want to bury the lede: after today Shopify will be smaller by about 20% and Flexport will buy Shopify Logistics; this means some of you will leave Shopify today,” Chief Executive Officer Tobi Lütke said in a memo to staff. “I recognize the crushing impact this decision has on some of you, and did not make this decision lightly.”
