Cohere, a Toronto-based AI startup, has successfully raised $500 million from prominent investors like Cisco, AMD, and Fujitsu. The funding round also saw contributions from Canadian pension investment manager PSP Investments and Canada’s export credit agency EDC, bringing Cohere’s valuation to an impressive $5.5 billion. Specializing in large language models for businesses, Cohere has attracted […]
Search Results for: layoffs
With Layoffs in the Rearview, Canadian Tech Markets Aim for Return to Growth
The global labour market continues to evolve amid a backdrop of remote work, shifting migration patterns, and increased economic development, suggests a new report. But at least the worst of the layoffs is probably behind us, data from CBRE shows. The worldwide unemployment rate closed 2022 at 5.8%, according to statistics from the United Nations’ […]
After Massive Layoffs, RenoRun Files For Creditor Protection
Montreal’s RenoRun has filed for creditor protection in bid to avoid bankruptcy. Today the construction tech startup filed a notice of intention to make a proposal under the Bankruptcy and Insolvency Act, the first step in the process to restructure the firm and prevent all-out bankruptcy. RenoRun is an online platform that allows contractors to […]
Layoffs Continue in 2023 as Tech Firms Grapple with New Reality
Much of the chaos and dust kicked up by the Covid-19 Pandemic is still shifting before settling. The once-consistent work environment is now a spectrum from all-office to all-remote across companies, impacting corporate culture and leaving entire downtown cores in a state of a flux. And that’s just the tip of the iceberg. In this new market, tech talent is […]
Alphabet Layoffs Redistribute AI Talent in Canada
Alphabet’s recent announcement that it will cut a whopping 12,000 staff sent shockwaves throughout the industry. The move will impact many regions and organizations, including dealing a blow to Alberta’s burgeoning artificial intelligence scene. That is because Google owns DeepMind, the company’s AI research arm, which runs an office in Alberta. As a result of […]
Tech Layoffs Are Coming: How To Stay On The Right Side Of Lay-offs
For the last few years, employment within the tech industry has boomed. There have been jobs for everyone at almost every level. Whether in-house or working from home. But times are changing. With the economy shrinking and Canada on the verge of another recession, we’re potentially approaching the end of the boom. Jobseekers will face […]
Amid Layoffs and Possible Recession, Tech Employees Not in Good Spirits
Several thousand Canadians employed in the technology sector have been laid off this year, as a brief post-Pandemic surge has quickly soured into a global downturn. Layoffs hail from a wide range of companies, including Ottawa’s Shopify, Toronto’s Clearco, and Vancouver’s Article and Unbounce. The freshly rebranded Hootsuite took a particularly large hit, trimming 30% of […]
How Canadian Tech Talent Can Protect Themselves in the Face of Industry-Wide Layoffs
Over the past two months, there have been several layoffs in the tech sector, and while many of the current layoffs are coming from U.S. companies, some say the tech sector in Canada will be hit hard. With potential layoffs and hiring freezes looming, the tech industry needs to know the potential impact on their […]
Planning and Managing Layoffs During the COVID-19 Crisis
Nobody ever wants to do layoffs. Laying your employees off is one of the hardest things you do as a leader. But remember, however badly you feel about it, your issues are small compared to those of the impacted employees. For them, the layoff may cause serious financial and psychological distress. It will also force […]
15 Rising Canadian Startups Attract Top Talent While ‘Shaping Future Industries’
The way that professionals in Canada work is “rapidly evolving,” according to LinkedIn, which recently revealed the country’s top companies on the rise. Advances in artificial intelligence have reduced the time and resources necessary to launch a business, LinkedIn notes, lowering barriers to entry and accelerating the next wave of innovation. At the tip of […]