![]() In 2021, Apple began to require mobile developers to obtain consent before collecting so-called “third-party data,” which track users between apps or websites so they can be shown targeted ads based on their online behaviour. Yes, shareholders likely pressured them last year about profitability, hence the head count reduction, but as a rapidly growing software company, I think you always want to stay as nimble as possible.” “I don’t think Shopify is doing this for shareholders, I think they always focus on the product. “Shopify had plenty of announcements last year as well, but the stock’s decline overshadowed pretty much everything else,” said Dan Romanoff, a Chicago-based senior analyst of e-commerce and software companies at Morningstar Inc., who believes a common theme this year is a renewed “focus on productivity.” Davidson, described “as an attempt to be pro-active, consistent with its long history.” Audiences, for example, positions Shopify directly against rival Inc.’s expanding advertising business and takes advantage of a potentially lucrative lull after a pullback by Apple Inc. But Shopify chose to announce them altogether, which Tom Forte, managing director and senior research analyst for investment firm D.A. The new products launched this week would typically have been spread out as individual announcements. In another recent e-mail, chief executive and Shopify founder Tobias Lutke said, reiterating what he told The Globe almost a decade ago when he was named CEO of the year: “What I’m trying to create is an environment where almost everyone around me feels uncomfortable all the time, because I’m dragging them into the next box.” He added that if the new changes “feel chaotic” for Shopify employees, it “is kind of the point.” Nejatian said in an e-mail to staff this week. “We have endless channel updates mixed with broad announcements and pineapple on pizza debates,” Mr. These changes have caused dissatisfaction among a number of employees, several said, who used the Slack channels for not only task-related conversations, but also friendly work banter.īut in an e-mail, Kaz Nejatian, who was recently promoted to become Shopify’s chief operating officer after serving as its vice-president of product, described Slack as “bloated, noisy and distracting.” According to five mid-level employees at Shopify, who The Globe is not identifying because they are not authorized to discuss the matter publicly, staff found a majority of Slack channels were deleted when they returned to work this week. Shopify plans to move its communications to Workplace by Meta Platforms Inc. But these rules only apply to “Shopifolk,” meaning Shopify staff can still set up work-related meetings with people who are not employed by the company. Thursdays will be the only day staff will be allowed to hold big meetings or events. The company now forbids all meetings from being scheduled on Wednesdays, the memos say. Shopify is also reducing its use of Slack, an instant messaging program that has long been the company’s preferred method of internal communication. The internal changes include indefinitely barring any meetings of three or more people, according to Shopify memos and e-mails obtained by The Globe and Mail. This week, employees returned after winter break to find smaller teams with tighter roles, and new rules in place. Over just a matter of days, Shopify launched a new look for its website announced a notable subscription product aimed at big retailers, called Commerce Components and bolstered a tool dubbed Audiences that will allow those businesses to pool customer data and better target advertisements. Shopify saw its stock price drop by more than two-thirds last year, and is entering 2023 with fewer employees after laying off more than 10 per cent of its workers last fall. Rising interest rates and inflation have created macroeconomic challenges, forcing many companies – big and small – to slow their hiring and get leaner. Tech companies are under pressure to tighten their operations on all fronts. ![]() The raft of changes signals an urgency and illustrates wider problems plaguing the technology sector, as an era of risk-taking gives way to sobering up amid crumbling profitability and cratering stock market valuations. The sweeping initiatives affect external and internal operations at Ottawa-based Shopify, which provides businesses in more than 170 countries with tools to set up online stores and retail point-of-sale systems. SHOP-T has made a flurry of strategic changes to kick off the new year, as the e-commerce company strives to exit a slump that sharply diminished its stock price and led to a slashing of its global work force.
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