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Flexport to lay off 20% of its workforce
- paulddraper 3y agoFlexport news is wild. How often do you see 20% layoff less than a week after raising $260M? https://www.flexport.com/blog/Flexport-Fundraise-2023/ https://www.flexport.com/blog/Flexport-Fundraise-2023/
- throwaway5959 3y agohttps://youtu.be/iQdDRrcAOjA https://youtu.be/iQdDRrcAOjA The word has been out for a while on Flexport.
- paxys 3y agoThe $260M investment likely came with the directive of reducing operating costs.
- paulddraper 3y ago"We think this opportunities merits an increased investment. But less investment than you are current making."
- theultdev 3y agoSeems more like, we would like to increase investment on the condition that you use it more for X (???) and less for Y (people). Oh and all you companies do this all at the same time so no one loses stock value, kthxbye.
- iouwhldkfjgklj 3y agoOperating costs are not an "investment".
- paulddraper 3y agoThey are. They are not the only kind though.
- BillSaysThis 3y ago20% is less than the 30% previously announced?
- jameslars 3y agoI read this as 20% on top of the 30% that already happened 3 months ago.
- tock 3y agoFlexport bought Shopify Logistics from Shopify barely a year ago. And now they raised money from Shopify. Their ownership in Flexport should be pretty significant now.
- nusl 3y agoI always saw Flexport hiring ads on HN, even recently IIRC. Wat
- tock 3y agoI believe this is their third round of layoffs within a year?