Shopify began this year announcing to its workers that meetings of more than two employees were banned. Slack channels that were not work-related – the online equivalent of a water cooler and its associated chit-chat – had been deleted.
Those changes, along with last year’s sweeping layoffs and the company’s new product offerings, are part of an attempt to bring Shopify back to its glory days, just a few years ago. In 2020, Shopify became the most valuable company in Canada, but that’s no longer the case. In 2022, it lost two-thirds of its stock value.
Technology reporter Temur Durrani tells us what went wrong, what Shopify is trying to do about it, and how the tech sector is suffering from uncertain times.
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