Logistics firm Flexport to lay off another 20% of its workforce: Report ...Middle East

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Logistics firm Flexport to lay off another 20% of its workforce: Report
San Francisco: Logistics company Flexport is reportedly planning additional layoffs, around 20 per cent of its workforce. According to a report in The Information, Flexport is likely to trim its workforce in the next few weeks. Flexport in October last year slashed the company’s workforce by 20 per cent — affecting about 600 workers. “It would mark the SoftBank-backed logistics startup’s third major round of cuts in just over a year,” the report noted. The company had approximately 2,600 employees after October job cuts. CEO Ryan Petersen had said that with this decision, “we’ll be able to get back to profitability without raising prices or placing our fortress balance sheet at risk.” “Inst

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