Flexport, a logistics firm with $2.7 billion in enterprise and debt funding, is reportedly planning extra layoffs.
That’s in response to 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 electronic mail to TechCrunch.
Flexport, which supplies freight forwarding and brokerage companies, introduced related cuts in October, when founder Ryan Petersen returned as CEO and slashed the corporate’s workforce by 20% — affecting about 600 staff.
An extra spherical of layoffs at Flexport would cap a brutal January for tech staff, as giants and startups alike have eradicated a mixed tens of hundreds 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 companies ties; again in Might, Shopify offered its logistics enterprise to Flexport in alternate for a 13% stake within the firm.
Flexport’s different buyers embody Softbank and Andreessen Horowitz.
