Flexport might lay off staff but once more

Flexport, a logistics firm with $2.7 billion in enterprise and debt funding, is reportedly planning further layoffs.

That’s in response to Information, which mentioned the agency intends to eradicate round 20% of its roles within the subsequent few weeks. Flexport communications head Liyan Chen declined to touch upon the report in an electronic mail to Information World.

Flexport, which offers freight forwarding and brokerage companies, introduced comparable cuts in October, when founder Ryan Petersen returned as CEO and slashed the corporate’s workforce by 20% — affecting about 600 staff. 

A further spherical of layoffs at Flexport would cap a brutal January for tech staff, as giants and startups alike have eradicated a mixed tens of hundreds of jobs throughout the business. Whereas San Francisco-based Flexport wouldn’t be an outlier for making cuts, the timing could be peculiar.

Simply final week, Flexport mentioned it’d raised a further $260 million in funding from Shopify. The deal deepened the 2 corporations ties; again in Might, Shopify offered its logistics enterprise to Flexport in trade for a 13% stake within the firm.

Flexport’s different buyers embrace Softbank and Andreessen Horowitz.

Source link

Related Articles

Back to top button