Business
Thinkific Announces Reduction in Workforce, Realizing Efficiencies; Strategy, Growth and Commitment to Creator Success Remain on Track
Thinkific Announces Reduction in Workforce, Realizing Efficiencies; Strategy, Growth and ...
About this update from Thinkific Labs, Inc.
[{"type":"text","content":"\n \n \n \n Thinkific Announces Reduction in Workforce, Realizing Efficiencies; Strategy, Growth and Commitment to Creator Success Remain on Track\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Company remains focused on investing for growth and executing on its strategy - supporting Creators' success in the knowledge economy\n \n \n \n \n Thinkific affirms Q1, 2022 revenue outlook, with revenue between\n \n $11.6\n \n and\n \n $11.8 million\n \n ; adjusted EBITDA loss expected to be slightly better than expectations of\n \n $10.2\n \n -\n \n $10.8 million\n \n \n \n \n \n Thinkific reports in U.S. dollars and in accordance with IFRS\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 29, 2022\n \n \n /CNW/ - Thinkific Labs Inc. (\"Thinkific\" or \"the Company\") (TSX: THNC), a leading cloud-based software platform that enables entrepreneurs and established businesses of all sizes to create, market, and sell online learning products, today announced a reduction in workforce to better reflect the areas of focus and growth at Thinkific. The Company also confirmed its Q1 2022 outlook.\n \n \n \n \n \n \n \n \n \n \"We have made the difficult decision to reduce our workforce. We have grown from 270 at the end of Q1 2021 to 499 today and have concluded, following a rigorous review of our organizational structure, that with a reduction of 100 in our workforce, we could increase efficiency and lower costs without impacting our growth trajectory,\" said Mr.\n \n Greg Smith\n \n , Co-Founder and CEO of Thinkific. \"While it is the right decision for the business, it was not one we made lightly. Everyone at Thinkific has played a role in the success we've had to date, and we are immensely grateful for their contributions. We are deeply committed to taking care of the members of our team that are leaving. This is a difficult day for the Thinkific team, but we are resilient. I am confident in our future.\n \n \n \"Our product-led growth strategy remains unchanged,\" conti...