Flexport to Lay Off Nearly 20% of Staff in Latest Cuts

Flexport plans to lay off nearly 20% of its workforce in the coming weeks, representing several hundred roles, according to people familiar with the matter. It would mark the SoftBank-backed logistics startup’s third major round of cuts in just over a year.

Flexport is planning the cuts even after it raised $260 million from Shopify earlier this month. The company had approximately 2,600 employees after it cut another 20% of staff in October.