Flexport Plans Third Round of Layoffs in a Year Despite Recent Funding

CEO Ryan Petersen focuses on profitability and reassures customers as the company navigates a period of change.

Flexport, the digital freight forwarder, is reportedly planning to lay off another 20% of its staff in the coming weeks, marking the third major round of cuts in just over a year.
Former CEO Dave Clark, who was known for aggressive hiring and spending, resigned in September 2023 after just over a year at the helm.
Current CEO and founder Ryan Petersen has been focusing on profitability and controlling costs since retaking the reins.
Despite the layoffs, Flexport recently raised $260 million from Shopify to continue building out their end-to-end logistics platform.
Petersen has expressed a desire to show customers that Flexport is regaining its footing and has strong backers like Shopify.