-: FOLLOW US :- @theinsaneapp
Flexport and Carta, Two companies that have received valuations of upwards of $7 billion after their most recent funding rounds, have reduced their staff.
-: FOLLOW US :- @theinsaneapp
Flexport offers cloud-based logistics platforms and will lay off 20 percent of their employees, roughly 640 employees.
-: FOLLOW US :- @theinsaneapp
The Co-Chief Executive Officers, Dave Clark, and Ryan Petersen announced the change in a memo they released early this morning.
-: FOLLOW US :- @theinsaneapp
“We are overall in a good position, but are not immune to the macroeconomic downturn that has impacted businesses around the world,” Clark and Petersen wrote in the memo.
-: FOLLOW US :- @theinsaneapp
“Our customers have been impacted by these challenging conditions, resulting in a reduction to our volume forecasts through 2023."
-: FOLLOW US :- @theinsaneapp
"Lower volumes, combined with improved efficiencies as a result of new organizational and operational structures, means we are overstaffed in a variety of roles across the company.”
-: FOLLOW US :- @theinsaneapp
The company provides a logistical platform for businesses to purchase goods from suppliers.
-: FOLLOW US :- @theinsaneapp
The platform also offers options to control how the merchandise is shipped.