Is this the same CEO who decided to double the engineering team in a single year? https://techcouver.com/2021/01/06/shopify-to-double-engineer... Aren’t CEOs paid ludicrously well to make long term decisions, rather than just flail around?
From a business perspective, this is great for Shopify. The labor market for software engineers has seriously softened as a result of all the layoffs. Go look at job openings and their posted salaries. When Shopify beings hiring again, they are going to be able to hire talent at a fraction of the price. Also, this is largely a coordinated effort from activist investors specifically targeting large tech salaries. E.g.…
It's basically class warfare