Just 4 Months After Amazon Boss Dave Clark Took Over, Flexport Looks To Cut 20% Of Staff — Retail Bum

Supply chain software startup Flexport is getting “nimble” by cutting 20% of its global workforce, equating to about 640 employees, according to a recent memo sent out to staff from co-CEOs Ryan Petersen and Dave Clark.

The announcement comes after a year of great success for the company. Just last year, the supply chain company topped the CNBC Disruptor 50 list, raised $900 million from investors at an $8 billion valuation, and revealed that former Amazon worldwide consumer chief, Dave Clark, would join the firm, taking over as CEO from September 2021.

But now Flexport seems to be singing a different tune as higher interest rates around the world hit demand.

“While we are looking forward to what’s to come in 2023, we must also make hard decisions necessary to set us up for long-term success. We are overall in a good position but are not immune to the macroeconomic downturn that has impacted businesses around the world,” said Petersen and Clark.

“Our customers have been impacted by these challenging conditions, resulting in a reduction to our volume forecasts through 2023. Lower volumes, combined with improved efficiencies as a result of new organizational and operational structures, means we are…