@@ -1,1 +1,1 @@ - +id="article-body" class="row" section="article-body" data-component="trackCWV"> Shopify is the latest to cut stuff, announcing Tuesday it will will lay off . The Canadian e-commerce company's CEO Tobi Lutke noted the company's pandemic-driven expansions "didn't pay off." Roughly will be affected, according to The Wall Street Journal.<br>Most of the affected roles are in recruiting, support and sales, with a [https://www.britannica.com/search?query=companywide%20focus companywide focus] on [https://www.business-opportunities.biz/?s=eliminating eliminating] "over-specialized and duplicate roles," Lutke said in a statement.<br><br>He acknowledged that Shopify made "a bet" by expanding its workforce as [https://www.business-opportunities.biz/?s=e-commerce%20shopping e-commerce shopping] boomed with the COVID-19 pandemic and the withdrawal from physical retail shopping.<br><br>"It's now clear that bet didn't pay off.<br><br> What we see now is the mix reverting to roughly where pre-COVID data would have suggested it should be at this point," Lutke said in a statement. "Now, we have to adjust. As a consequence, we have to say goodbye to some of you [https://www.rtnewstoday.com/ RT News Today] and I'm deeply sorry for that."<br><br>Read also: <br><br>Over the past year, Shopify's stock has declined by more than 80%. Following the announcement Tuesday morning, the [https://www.fool.com/search/solr.aspx?q=company%27s%20shares company's shares] sank by about 15%.<br><br>Those laid off will receive 16 weeks of severance pay with medical benefits extended, according to the statement.<br><br>Shopify is also offering outplacement services and allowing employees to keep home [https://www.tumblr.com/search/office%20furniture office furniture] the company provided.<br><br>"I want to express my sincere gratitude to each of you for everything you've given to support merchants and our mission of making commerce better for everyone," Lutke said.