(Reuters) -Canada’s Shopify Inc said on Thursday it would cut 20% of its workforce, marking the Canadian e-commerce company’s second round of mass layoffs.
The company also beat Wall Street estimates for first-quarter revenue, sending its U.S.-listed shares up 8% in trading before the bell.
The company posted revenue of $1.51 billion in the quarter ended March 31, compared with analysts’ estimate of $1.43 billion, according to Refinitiv data.
(Reporting by Chavi Mehta and Akshita Toshniwal in Bengaluru; Editing by Krishna Chandra Eluri)
