The owner of Luxembourg based company Talkwalker will make 20% of its worldwide staff redundant, a spokesperson for the firm has said.
“On Monday, we made the difficult decision to restructure our organization, reducing our global workforce by 20%,” a spokesperson for Hootsuite, headquartered in Vancouver, told the Luxembourg Times.
The company declined to comment on the impact on its operations in the Grand Duchy.
Talkwalker, a social media monitoring service founded in Luxembourg in 2009, was acquired by Hootsuite last year. In recent years, Talkwalker had posted sucessive financial losses and laid off a large number of staff in 2022 and 2023.
According to the firm’s most recent annual financial statement, the company had an average of 41 full-time equivalent employees in Luxembourg during the financial year ending 31 December 2024, down from 56 the previous financial year.
Talkwalker recorded net turnover of €37 million in the financial year ending 31 December 2024, compared to €39 million in the 2023 financial year. The company posted a net loss of €9.5 million in the 2024 financial year and €9.9 million in the 2023 financial year.
In a statement on Tuesday, the Hootsuite spokesperson said: “We’re committed to managing this transition with care, and are supporting departing and remaining employees through the process.”
They said: “Our success depends on building an organization where decisions happen faster, ownership is clearer, and teams are empowered to act with accountability. With these changes, we’re investing in our future: enabling better focus and execution to support our enterprise growth priorities and show up even stronger for our customers.”
Also on Monday, the e-commerce and technology giant Amazon announced that it would cut 14,000 corporate jobs globally, but has not commented on the potential impact in Luxembourg.
