Struggling Forward Air sharpens its job axe again in bid to cut costs
Forward Air has embarked on another round of job cuts as management tries to develop ...
GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
Convoy, a digital trucking platform valued at $3.8bn in April, has decided to lay off 7% of its staff, citing concerns over the future economy. The cuts equate to some 90 people, according to GeekWire. Convoy said the redundancies would “ensure we are in the strongest financial position possible ahead of the potential for worsening economic conditions”. GeekWire also reports that venture capitalists are advising tech companies to cut expenses and that the influx of money is slowing down, following record investment in start-ups. Global venture funding is expected to fall 19% this quarter over last quarter, while new funding rounds are giving lower valuations than before.
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