"Unfortunately, this included some reductions to our staff. We remain committed to helping employees affected by today's announcement through these times of transition. Our goal is to ensure they are treated with dignity and respect." Hootsuite did not acknowledge a request from BIV for an interview with a company representative. Last fall Reuters reported Hootsuite was considering a sale at US$750 million or more. Sources told the news agency the tech company had enlisted Goldman Sachs Group Inc. to assist with a potential sale. Hootsuite has also been the centre of speculation over the years over a possible initial public offering. This ramped up in October 2015 when the social media management company hired Sujeet Kini as its first chief financial officer. Kini previously worked as chief accounting officer at OpenText (TSX:OTC), one of Canada's largest publicly traded software companies.