Flexport, a logistics business with $2.7 billion in endeavor and financial obligation investment, is apparently preparing layoffs that are additional

That’s according to Information, which said the firm intends to eliminate around 20% of its roles in the next weeks that are few. Flexport communications mind Liyan Chen declined to discuss the report in a contact to For Millionaires.

Flexport, which offers cargo forwarding and brokerage solutions, launched cuts that are similar October, when founder Ryan Petersen returned as CEO and slashed the company’s workforce by 20% — affecting about 600 workers. 

An additional round of layoffs at Flexport would cap a brutal January for tech workers, as giants and startups alike have eliminated a combined tens of thousands of jobs across the industry. The timing would be peculiar.Just while San Francisco-based Flexport wouldn’t be an outlier for making cuts the other day, Flexport said* that is( it’d lifted yet another $260 million in investment from Shopify. The offer deepened the 2 companies ties;

back May, Shopify marketed its logistics company to Flexport in return for a 13per cent share when you look at the organization.

Flexport’s other people consist of Softbank and Andreessen Horowitz.(*)