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