(Toronto) Indigo Books
Indigo spokesperson Melissa Perri said in an email to The Canadian Press that the cuts are a result of the company’s strategic plan to return to profitability.
Indigo has experienced several quarters of losses and a wave of management and board changes over the past year.
Most recently, the company reported a net loss of $22.4 million in the second quarter, during which time founder and CEO Heather Reisman retired and turned the business over to Peter Ruis.
Mr. Ruis abruptly left the company in September, leading to the return of Ms. Reisman.
Last year, the company also grappled with a cyberattack in February that took down Indigo’s website and saw four of its ten directors leave its board, with one member attributing her resignation to mistreatment.
“While it is a difficult decision to part ways with valuable and talented employees, it is the right decision for our company and everyone we serve,” Ms. Perri said in an email confirming this week’s layoffs .