Seattle-based startup Flexe has recently announced layoffs, affecting 99 employees, which accounts for about 38% of its workforce. The decision was influenced by the current market volatility in the logistics industry due to ongoing macroeconomic uncertainty. Despite having a strong cash position, Flexe deemed it necessary to ensure continued investment in the business.
Flexe, established in 2013, offers technology, logistics, warehousing, transportation, and fulfillment services to both online and brick-and-mortar retailers. Some of its notable customers include Ace Hardware, BJ’s Wholesale Club, Ralph Lauren, Staples, and Walmart.
This round of layoffs marks the third by Flexe in the past two years, with previous layoff rounds in September and July 2022. The company experienced growth in funding, reaching a $1 billion valuation following a $119 million Series D funding round.
