News / Forto axed 10% of staff, but is now 'lean' enough to weather the downturn

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Digital forwarder Forto has been forced to cut its headcount by 10% globally in the face of weakening economic conditions.

Most of the job cuts took place in November said Michael Wax, co-founder and CEO of the company, which has some 900 employees.

Sources told The Loadstar yesterday Forto staff had been affected by “restructuring”, but one executive close to the company said no more job cuts were likely.

“I have not heard that there will be another round of restructuring. Staff were ...