Shopify Warns of Losses for the Full Year, After Job Cuts

by | Jul 27, 2022 | Business

Updated July 27, 2022 11:24 am ETListen to article(2 minutes)Shopify posted a quarterly loss and warned it would post losses in the rest of the year as e-commerce growth slows, a day after the company said it would cut 10% of its employees.Despite the outlook, the Canadian company’s shares rose almost 6% in early trading on Wednesday. The stock dropped 14% on Tuesday after The Wall Street Journal reported on the layoffs, and the shares are down about 80% from their November peak.

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