Utah tech company Canopy lays off about 60% of workforce in 9 months

in Local Roundup

SALT LAKE CITY — Local tech company Canopy has cut about 60% of its workforce over the last nine months, according to an emailed statement from the corporation.

The Lehi-based tax software company laid off over 80 employees in March — leaving a headcount of about 170 — then just recently let another 73 employees go as the company underwent a “shift in product direction,” Canopy’s chief revenue officer and interim CEO Jordan Ray said in the statement.

The initial round of layoffs in March was a consequence of the board’s decision to “refocus efforts on the go-to-market strategy,” Avarell told the Deseret News earlier this year.

“Our previous, high-touch sales team worked very well, but for efficiency reasons … the decision was made to move to something more streamlined,” he explained.

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