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Flexport And Carta To Layoff Around 840 Employees 

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Flexport and Carta, Two companies that have received valuations of upwards of $7 billion after their most recent funding rounds, have reduced their staff.

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Flexport offers cloud-based logistics platforms and will lay off 20 percent of their employees, roughly 640 employees.

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The Co-Chief Executive Officers, Dave Clark, and Ryan Petersen announced the change in a memo they released early this morning.

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“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. 

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 “Our customers have been impacted by these challenging conditions, resulting in a reduction to our volume forecasts through 2023."

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"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.”

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The company provides a logistical platform for businesses to purchase goods from suppliers.

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The platform also offers options to control how the merchandise is shipped.

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