Flexport might lay off employees but once more

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

That’s based on Data, which stated the agency intends to get rid of round 20% of its roles within the subsequent few weeks. Flexport communications head Liyan Chen declined to touch upon the report in an e-mail to TechCrunch.

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

A further spherical of layoffs at Flexport would cap a brutal January for tech employees, as giants and startups alike have eradicated a mixed tens of 1000’s of jobs throughout the trade. Whereas San Francisco-based Flexport wouldn’t be an outlier for making cuts, the timing could be peculiar.

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

Flexport’s different traders embody Softbank and Andreessen Horowitz.

Leave a Comment