17:59:39 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Shopify Inc
Symbol SHOP
Shares Issued 1,197,261,979
Close 2023-05-30 C$ 79.14
Market Cap C$ 94,751,313,018
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Globe says Shopify sued for bait-and-switch severances

2023-05-31 08:30 ET - In the News

The Globe and Mail reports in its Wednesday edition that a class-action lawsuit alleges Shopify reneged on a deal it offered some employees who were laid off in a recent round of cuts. The Globe's Tara Deschamps writes that the class action alleges some of the Ottawa software business's employees laid off at the start of May were presented with departure packages outlining hefty severance sums they would be entitled to should they sign the agreement within a few days. However, once workers signed the agreements and before the deadline passed, Shopify allegedly told departing staff they would instead be given substantially smaller sums than were initially offered. "The individuals did the reasonable thing, which is to accept, only to be told even though we made you reasonable offers, even though you accepted that reasonable offer, we're just not going to do it and you have to sign a brand new agreement for a much lesser amount," said Lior Samfiru, a lawyer pursuing the case. The class action's plaintiff, Iain Russell, says he was initially offered more than $88,000, which he accepted. Then, Shopify allegedly put forward a $44,000 agreement. If he did not accept the $44,000 offer, he was told he would receive $36,000.

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