Flexport, a well-known American digital freight forwarder, is letting go of 20% of its staff.
Co-CEOs Dave Clark and Ryan Petersen, writing to staff, cited the macroeconomic downturn that has impacted businesses around the world for the decision to axe around 600 staff. Flexport is expecting shipping volumes to slump this year.
“Lower volumes, combined with improved efficiencies as a result of new organisational and operational structures, means we are overstaffed in a variety of roles across the company,” Clark and Petersen wrote.
