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Flexport to lay off 20% of its global workforce - TL;DR CNBC

Flexport to lay off 20% of its global workforce

Publishing timestamp: 2023-01-11 18:24:15


Summary

Flexport, a supply chain software startup, is laying off 20% of its global workforce due to a global macroeconomic downturn and softening trade volumes. This follows layoffs from other tech companies such as Amazon, Salesforce, Coinbase, Twitter, and Meta. The layoff packages for US employees include 12 weeks severance, 6 months extended health care, 2022 bonus payment, equity vesting acceleration, immigration support, and ability to opt into alumni talent directory. CNBC is now accepting nominations for its 2023 Disruptor 50 list.


Sentiment: NEGATIVE

Tickers: CRMCOINMETAAMZN

Keywords: elon muskcoinbase global inctradelayoffsu.s. economybusiness newstechnologyeconomy

Source: https://www.cnbc.com/2023/01/11/flexport-to-lay-off-20percent-of-its-global-workforce.html


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