Vancouver edtech company Thinkific lays off 100 people, or 20% of workforce

Thinkific, a Vancouver, B.C.-based publicly traded online education company, announced layoffs Tuesday that will affect 20% of its 499 employees. The company nearly doubled headcount over the past year and said the cuts will “increase efficiency and lower costs without impacting our growth trajectory.” Thinkific, which helps instructors create their own online courses, reported a $26.4 million CAD loss last year and has seen shares sink since raising $160 million CAD in its IPO last year. Read the letter to employees from CEO Greg Smith here.