Launch of supply chain software flexport laid off 20% of its global workforce, or about 640 employees, according to a memo from co-CEOs Ryan Petersen and Dave Clark, CNBC reports.
The company’s trucking and brokerage services reside in the cloud, enabling cost, container efficiency and greenhouse gas emissions to be analyzed quickly and more accurately than traditional systems.
The co-CEOs cited the global macroeconomic downturn and slowing trade volumes, but wrote, “As the economy recovers…we need to be nimble, fiscally responsible and focused on building fast with operational excellence.”
Flexport joins a long list of tech companies shedding jobs after experiencing a hiring frenzy during the Covid pandemic, including recently announced layoffs from Amazon, Salesforce and Coinbase.
