Benevity cuts 14% of workforce: A ‘canary in the coal mine’ for corporate charitable giving?

“A lot of executives, even if they may believe in it strongly — when they get ruthless about their budget, it’s easily one of the first things to go,” says Clarke Foster, a former Benevity employee.

Why It Matters

Benevity offers one of the country’s most-used giving platforms among large companies. Experts say the cuts could signal a forthcoming decline in corporate donations from some industries; and some worry the company’s layoffs could worsen customer service for charities and non-profits who receive donations through Benevity’s platform.

This independent journalism is made possible by the Future of Good editorial fellowship covering the social impact world’s rapidly changing funding models, supported by Future of Good, Community Foundations of Canada, and United Way Centraide Canada. See our editorial ethics and standards here.

Last week, over 125 staff at one of Calgary’s tech darlings got the axe. 

At an online all-staff meeting on January 18, Kelly Schmitt, CEO of corporate donation technology company, Benevity Inc., announced that 14 per cent of employees would be let go. 

The explanation for the cuts was straight-forward. While the company has grown significantly over the last decade buoyed by corporate demand for community impact opportunities, the market has now slowed. 

“Over the las

 


For limited access, create a FREE account

Limited Time Offer

Unlimited Access

Only $24 for the year 

80% off the standard annual membership ($119.50)

Enjoy unlimited access to insightful social impact journalism, special reports, talks and events that fuel your learning, development and decision-making.

For group membership discounts, contact us. community@futureofgood.co

Already have an account? Log in

These special introductory offer is not available to current subscribers of the same subscription type. Your payment method will automatically be charged in advance the introductory rate indicated in the offer above for 1 year, and after 1 year the indicated standard. Your subscription will continue until you cancel. Cancellation takes effect at the end of your current billing period. HST taxes apply. Offer terms are subject to change