Logistics company Flexport, which has $2.7 billion in venture and debt financing, is reportedly planning further layoffs.
The company plans to cut about 20% of its positions in the coming weeks, Information reported. Flexport communications director Liyan Chen declined to comment on this report in an email to TechCrunch.
Flexport, which provides freight forwarding and brokerage services, announced similar layoffs in October, when founder Ryan Petersen returned as CEO and cut the company’s headcount by 20%, affecting about 600 employees.
Another round of layoffs at Flexport will make for a brutal January for tech workers, as both giants and startups have eliminated tens of thousands of jobs across the industry. While San Francisco-based Flexport is not an exception to the layoffs, the timing is.
Just last week, Flexport said it raised additional funds $260 million in funding from Shopify. The deal deepens the ties between the two companies; Back in May, Shopify sold its logistics business to Flexport in exchange for a 13% stake in the company.
Other investors in Flexport include SoftBank and Andreessen Horowitz.
