US logistics startup Flexport is reportedly planning to lay off around 20% of its workforce in the coming weeks. The layoffs are part of a broader restructuring effort by the company, which has faced challenges in recent months. Flexport, which is valued at $8 billion, acquired Shopify Logistics under its former CEO with the aim of expanding its services, but the move has raised questions about profitability and cost. The company has received $2.3 billion in funding to date.
Flexport, on the move: 20% of workforce to be let go
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