Thinkific lays off 30 percent of staff in enterprise pivot

Vancouver-based course platform Thinkific cut 96 jobs, 30 percent of its workforce, as it shifts focus to mid-market and enterprise customers. The company expects about $5 million USD in restructuring costs and roughly $19 million USD in annual savings; $THNC shares jumped 70 percent.

• 96 employees cut, 30 percent of Thinkific's global workforce
• Layoffs concentrated in teams serving small and medium businesses
• Restructuring costs about $5 million USD, annual savings near $19 million
• $THNC shares rose 70 percent, from $1.20 to $2.10 CAD