Dark
Light

Flexport cuts 20% of employees as US logistics startup lags.

1 min read
17 views

US logistics startup Flexport is reportedly planning to lay off approximately 20% of its workforce in the coming weeks, according to sources familiar with the matter. The company, which provides technology-enabled freight forwarding and customs brokerage services, is making the job cuts in response to a slowdown in business due to the economic impact of the COVID-19 pandemic and disruptions in global trade. Flexport had raised $1 billion in funding last year to expand its business and strengthen its technology platform. The layoffs come as the logistics industry continues to face challenges amid the ongoing pandemic.

Previous Story

Tech alone won’t rescue us from climate crisis, declares researcher.

Next Story

Flexport cutting 20% of staff, streamlining US logistics biz.

Latest from News