North, a company that makes high tech eyewear in Kitchener, confirms that they are downsizing.
They say they are cutting an unspecified number of jobs and are calling it a difficult but necessary decision.
The company had been hiring locally in research and development, manufacturing, and retail, as well as creating stores in New York City, Seattle, Toronto, and San Francisco.
It’s unknown if cuts are coming to these locations.
North received $120 million US in funding from investors like Amazon and Intel to make their product “Focals”.
The company says it has 400 employees, but won’t say how many or which jobs will be cut.
Communitech says they wil be helping connect newly laid off workers with opportunities.
“It's not uncommon for companies to pivot in the early going or to evaluate what their market looks like,” said Avery Peters of Communitech. “Markets change and some companies have to adapt.”
Back in November, North received $24 million in federal funding from the ministry of innovation, science and economic development. The money was for job creation.
A representative from the ministry said in a statement that future payments have been suspended.
North says it will continue to be headquartered and manufacturing in the area.
The company rose to the forefront of Canadian tech as Thalmic Labs with its innovative arm band five years ago.
