Another round of staff lay-offs at Flexport

Flexport is cutting staff again, according to The Information. In a memo to staff, CEO Ryan Petersen acknowledged that the company would have to “move faster” to hits its profitability goals.

Cuts will focus on management and the fulfilment team, but it is not yet clear how many job losses there will be.

The plan, reportedly, is to focus fulfilment on big customers rather than SMEs, which have been the company’s focus in recent years.

The memo noted: “These changes will increase our velocity in that direction, and set us up for a successful next few years of profitable growth.”

It is the second round of job cuts this year at the forwarder, after some 20% of roles were slashed in January.

The Information also noted that Flexport was looking to sublease warehouse space in a bid to cut costs.