Sources: Flexport plans to lay off ~20% of workforce, its third round of cut in just over a year; it has ~2600 employees after cutting 20% of staff in October
Theo Wayt / The Information :
Trucking marketplace Convoy starts shutting down; sources: the startup had ~$320M in 2023 revenue by early October, on pace to fall short of the $630M in 2022
Trucking Startup Backed By Bezos And Gates—Shutting Down After Failing To Find Buyer, Report Says Taylor Soper / GeekWire : Convoy collapse: Read CEO's memo detailing sudden shutdown of Seattle trucki...
Job listings site Indeed lays off ~2,200 people, or ~15% of its headcount, citing falling HR Tech revenue; Tokyo-based Recruit acquired Indeed in September 2012
Theo Wayt / The Information :
Lyft freezes all hiring in the US through the end of 2022 and began notifying job candidates about the freeze this week; Lyft's stock is down 68% year-to-date
Theo Wayt / New York Post :
Bolt Financial laid off 185 employees, or about one-third of its workforce; some have to repay loans they took from the company for vested shares within 90 days
The Daily Brief is a free glimpse into the prevailing fundamental … Lindsey Choo / Protocol : Bolt lays off employees in a company restructuring Erin Woo / New York Times : Bolt, the payments start-up...
Grocery app Buyk, which was founded by two Russians and has sizable operations in New York and Chicago, furloughs ~98% of its employees amid sanctions on Russia
Theo Wayt / New York Post :
Grocery app Buyk, which was founded by two Russians and has sizable operations in New York and Chicago, furloughs ~98% of its employees amid sanctions on Russia
Theo Wayt / New York Post :