More layoffs at London media company, Diply
35 staff to be affected across three locations
For the second time in two months, London-based Diply has announced layoffs.
Once named Canada's fastest growing tech and media company, 35 employees will be affected from its three offices in London, Toronto and New York City. Some of the layoffs were immediate. Others will be phased in over the next month.
"The digital publishing space is changing at a rapid pace and we will continue to adapt to remain a category leader," said Taylor Ablitt, CEO and co-founder, in a memo to staff. "By taking these actions and reducing our expenses we will get back to profitability, a core pillar to our business from the very beginning."
'Serious issues in the market'
In July, Diply let 40 employees go, citing "serious issues in the market". At the time, CBC News spoke to former employees who said Facebook's new algorithms, which prioritize friends and families over publishers and brands, may have been the reason for the first round of cuts.
Moving forward, Ablitt indicated Diply's focus will include diversifying its audience, increasing focus on mobile video as a format for storytelling, and expanding its scope for content innovation and production.
"We believe there is a ton of white space and opportunity in our market and these changes give us the time to get there," added Ablitt.
Diply rose to success in just five years as a digital media giant, creating and aggregating video and clickable content geared toward millennials.
In 2016, the company expanded from London, opening offices in New York and Toronto. At that time, Ablitt was reported as stating that Diply was averaging 20 million hits each day, making it one of the top aggregate websites in North America.
A year later, Deloitte placed the company at the top of its Fast 50 list of Canada's high-growth companies.