Another Seattle-Based Firm Chops 33 Percent of Its Workers
Yet another Seattle-based tech-related firm has announced a significant job cut, this one, 33 percent of the company's workforce.
Seattle firm to begin shedding workers
According to a WARN Alert (Worker Adjustment Retraining Notification) from Employment Security, and information from Geekwire, Flexe, Inc. will drop 131 workers from its payroll.
According to Geekwire, the company, which began in 2013, sells on-demand warehouse spacing for online retailers in addition to transportation and fulfillment services.
At one time, the company was considered to be what's called a "unicorn," or a startup that reached $1 billion dollars in value. Geekwire says post-pandemic freight slowdowns are likely behind the layoffs.
In 2021, companies such as Amazon, and others saw a huge boost in online sales (due to COVID lockdowns) and this resulted in booming business for freight, delivery, and fulfillment businesses, including Flexe.
Geekwire says another Seattle-based digital trucking marketplace company Convoy has also laid off a number of workers in several cuts over the last year.
The Washington State legislature recently passed legislation requiring WA businesses to notify the Employment Security Department of pending layoffs or cutbacks. This new WARN Alert system went into effect this year.
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