Shopify Cuts Workforce By 10 In Bet That Didn T Pay Off Stocks Are Sinking
“I think this is a sign that the company is seeing some headwinds in its business and is choosing to take a more disciplined path to growth and profitability,” Tyler Radke, director of Citi Research, said in an interview. Shortly before the layoff announcement, Radke cut his price target on Shopify shares in New York to US$37.00 apiece from US$43.20 amid concerns about what he called “a challenging demand landscape....