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FREIGHTWAVES reports:
Supply chain visibility platform FourKites confirmed it has reduced its workforce across offices in the United States and Europe by 15% this week.
“With these changes in place, along with the recent realignment of our leadership team, we are accelerating our timeline to profitability, taking our burn rate to zero — now — and reducing our reliance on capital markets,” a FourKites spokesperson told FreightWaves.
The move included the departure of another key executive, Glenn Koepke, vice president of strategy. Koepke played a crucial role in leading industry strategy and go-to-market execution, particularly in sectors like food and beverage, consumer packaged goods, and logistics solutions. Koepke told FreightWaves he is excited about what is next for his career in logistics.
“It is painful to say goodbye to so many talented, passionate and committed employees who will be impacted by these decisions. … We are committed to ensuring that every person impacted by this action is taken care of, and we are working closely with those team members on financial and career assistance,” said FourKites…
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