Flexport is laying off 1/5 of it's workings including sales.
Global trade is slowing and the logistics sector is dropping. Dec was rough compared to last year for my group.
SADNES5
Logistics Industry Layoffs - Flexport 20%
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Yeah, I’m seeing a ton of cutting. Was speaking with a PE firm earlier today, and heard that a lot of tech can cut 50-75% and still maintain their product. I would expect some companies with legacy systems to get acquired and gutter.
Loigistics ARR rates have been bloated by the high market rates. Not surprising to see them reevaluate as it cools
Very valid explanation 🔥
Based on the article, laying off but also hiring. Are you affected?
Not my company. All is well on my side of the fence... Priming "this surge isn't going to last" since 2021.
Good. I am with you re the surge. At some point, there's complete market saturation.
Companies did gear up when interest rates were low and consumer demand was off the charts. We unfortunately had to get back to this point where what we were seeing for most of 2020 and 2021 couldn't last.
If everyone is cutting, who's hiring? And how will this really impact the unemployment rate - considering the talent ones as well?
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