It's a struggle for 'digital' forwarders, with 'poster boy' Flexport losing value
The proposed sale of ‘digital’ forwarder Forto, as well as EV Cargo, which also considers ...
© Filmfoto
By Alex Lennane
So-called ‘digital’ forwarder Forto has reportedly laid off some 200 employees, or about one-third of its workforce.
Speculation on an imminent sale of the forwarder has been doing the rounds for some time, after it appointed Moelis investment bank as an adviser.
German title DVZ noted today that “a large portion of the layoffs are sales employees. Market participants view the wave of layoffs as a sign that Forto is withdrawing from the operational freight forwarding business and could be sold”.
Forto told ...
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