Starting June 1st, 2023 Our warehouse fee will be $0.65/cubic foot per month

In effort to lower the warehouse storage fee during inflation, we have went narrow aisle racking.This construction took us four months but the project is finally completed. With narrow aisle racking, we are able to drop storage by 24%.We as partners will go through this inflation together.

Blogs/hot-news

01/30/2024

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Flexport, a Logistics Startup, Will Cut Hundreds of Jobs

    Flexport, a Logistics Startup, Will Cut Hundreds of Jobs

    Flexport Will Cut Hundreds of Jobs

    Logistics startup Flexport Inc. is set to reduce its workforce by laying off hundreds of employees, marking the company's latest move to adapt to the challenges posed by a global shipping industry slowdown. An anonymous source familiar with the matter revealed that the cutbacks will affect less than 20% of Flexport's workforce, which currently stands at approximately 2,600 employees. This decision follows a recent $260 million investment from Shopify Inc. in the form of a convertible note, reinforcing the ongoing collaboration between Shopify and Flexport, which saw Flexport acquiring Shopify's logistics business in the previous year. 

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

    Flexport faced significant challenges in the past year, having already undergone a 20% reduction in staff in January 2023 and an additional 20% cut in October of the same year. The company experienced leadership changes with the removal of CEO Dave Clark, and founder Ryan Petersen returned to lead in a major restructuring that led to substantial executive turnover. Despite thriving during the pandemic, with increased online shopping and rising shipping rates, Flexport's fortunes have reversed as freight prices declined, and various Silicon Valley startups faced setbacks.

    New Flexport Layoffs

    The company, headquartered in San Francisco, has amassed $2.35 billion in funding, excluding the Shopify deal, and attained a valuation of up to $8 billion from venture investors such as Founders Fund, Andreessen Horowitz, and DST Global. Flexport has refrained from commenting on the job cuts, with news of the layoffs initially reported by The Information. Bloomberg Beta, the venture-capital arm of Bloomberg LP, is also listed as an investor in Flexport.

    Simon Mang

    SEO

    Digital Marketing/SEO Specialist

    Simon Mang is an SEO and Digital Marketing expert at Wordcraft Logistics. With many years of experience in the field of digital marketing, he has shaped and built strategies to effectively promote Wordcraft Logistics' online presence. With a deep understanding of the logistics industry, I have shared more than 300 specialized articles on many different topics.

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