FreshBooks Layoffs
Industry Finance · Location Toronto · Canada · Subscribe (RSS)
FreshBooks has 5 publicly reported layoff rounds on record between April 21, 2020 and October 1, 2024. A total of about 258 employees were affected across these rounds.
Layoff history
Toronto-based accounting software company FreshBooks laid off 140 employees in October 2024, cutting roughly 20% of its global workforce across all teams and levels. Interim CEO Mara Reiff described the previous 18 months as "challenging" and said the company needed to take a "bold and pragmatic" step to stand on its own financial footing. The cuts came alongside senior leadership changes, the removal of organizational layers to improve agility, and team consolidations aimed at improving the customer experience. Chief product and technology officer Stefano Grossi also departed. The round was the company's sixth known reduction since September 2022, following an earlier 80-person cut in March 2023. FreshBooks set a goal of reaching profitability by 2025 under a three-year strategic plan.
Reason: profitability push after 18 challenging months
Source: freshbooks.com
FreshBooks disclosed a workforce reduction affecting its Toronto operations in November 15, 2023.
Source: betakit.com
FreshBooks disclosed a workforce reduction affecting its Toronto operations in March 21, 2023. Approximately 80 roles were eliminated.
Source: betakit.com
FreshBooks disclosed a workforce reduction affecting its Toronto operations in December 16, 2022.
Source: betakit.com
FreshBooks disclosed a workforce reduction affecting its Toronto operations in April 21, 2020. Approximately 38 roles were eliminated.
Source: betakit.com
Data for FreshBooks is compiled from public WARN Act filings and reporting linked above. See our methodology.