US logistics startup Flexport is planning to put off about 20% of its workforce within the coming weeks, The Data reported on Friday citing folks conversant in the matter.Flexport didn’t instantly reply to a Reuters request for a remark.
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Reuters had reported in October Flexport was planning to put off as much as 30% of its workforce by the tip of the month following a CEO change.
Flexport is likely one of the most precious US logistics startups, with $2.3 billion in funding to date and an $8 billion valuation.
The corporate acquired Shopify Logistics below former CEO Clark, including business-to-business distribution and last-mile supply to the corporate’s portfolio of providers, however elevating questions on profitability and price.
