Shopify Inc. said Thursday it would cut 20% of its workforce, marking the Canadian e-commerce company's second round of mass layoffs.
The company also beat Wall Street estimates for first-quarter revenue, sending its U.S.-listed shares up 8% in trading before the bell.
The company posted revenue of $1.51 billion in the quarter ended March 31, compared with analysts' estimate of $1.43 billion, according to Refinitiv data.
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