(Bloomberg) -- Montreal, a hotbed of technology hiring in recent years, is feeling a chill from the sector’s big slump.

Fewer employees are hopping from one job to another and some companies are trimming headcount or leaving vacant jobs unfilled, according to executives in Canada’s second-largest city.

The chief executive officer of IT consulting firm CGI Inc. said turnover of employees has noticeably slowed. “We will adjust our hiring appropriately,” George Schindler, whose company reached 90,000 employees last year, told analysts.

Stingray Group Inc. CEO Eric Boyko said in an interview he’s also seeing a major shift in the market: “Since September, we have close to zero rollover” in staff.

The Montreal tech scene has grown rapidly in recent years as companies including Nuvei Corp., Lightspeed Commerce Inc. and Dialogue Health Technologies Inc. expanded and went public. An artificial intelligence hub has also emerged, attracting companies such as Alphabet Inc.’s Google, which recently opened new offices in the city to house as many as 1,000 employees.

But a number of startups and smaller firms have been cutting back or eliminating jobs recently. 

Stingray, a digital entertainment-services and media company, has cut its global headcount by 8% from last year’s level, to 920 employees. Most of the job cuts were done by attrition in Canada, the US, Europe and Israel as workers left the firm voluntarily. Stingray’s decision to limit work-from-home arrangements was a factor in some departures, Boyko said. 

“We have implemented a three-day policy at the office and some people wanted to stay virtual,” the CEO said. “They did leave for that, which is OK because it’s not in our values.” Some unprofitable projects were also eliminated.

RenoRun Inc., an e-commerce company that serves the construction industry and is backed by Tiger Global Management, has cut more than 40% of its staff since July, the Globe and Mail newspaper reported last month. Video game publisher Embracer Group recently shut down a Montreal studio, a move that affected 200 employees. 

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