Warehouse provider Flexe is reducing its headcount by 38% just months after cutting roughly a third of its workforce, CEO and co-founder Karl Siebrecht told Supply Chain Dive in an email.
Siebrecht did not provide a specific headcount, noting that they “are not commenting beyond what has already been confirmed with the Puget Sound Business Journal.”
Similar to the last round of layoffs, Flexe attributed the cuts to “ongoing market volatility in the logistics industry driven by continued macroeconomic uncertainty. While we have a very strong cash position, it is important that we preserve our ability to continue investing in the business,” according to a company statement obtained by the Puget Sound Business Journal.
Some ex-employees went to LinkedIn to offer encouragement to their former colleagues impacted by the layoff, according to posts published today. Positions impacted include engineers, analysts and more, a Flexe employee wrote.
The company, which aims to help retailers secure warehousing space, currently employs nearly 350 people, per its LinkedIn profile as of Monday.
In 2023, Flexe ranked at 236 in Deloitte’s Technology Fast 500, which is based on a company’s fiscal-year revenue growth percentage over a three-year period. During that time, Flexe saw 612% growth, according to the Fast 500 data.
Flexe is one of the many logistics and transportation companies, which include forwarders, warehouse providers and more, that have also undergone layoffs over the past year due to a dip in demand. Earlier in October, fellow Seattle-based digital brokerage, Convoy, shuttered its operations in a bid to cut costs after failing to secure a buyer amid a weak freight market.
