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January 26, 2024
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Flexport, on the move: 20% of workforce to be let go

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.

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Flexport’s workforce to shrink by 20% as layoffs hit US logistics startup

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