Flexport Rescinds Job Offers, Cuts Costs Under Return of Founder CEO
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Flexport CEO Ryan Petersen announced the company was rescinding dozens of job offers, including some set to start Monday.
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This comes after Petersen reclaimed his role as CEO and former CEO Dave Clark departed this week.
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Petersen said he didn't understand why so many new hires were made during a hiring freeze.
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The rescinded offers come amid a push for cost cuts and a return to profitability for the company.
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Earlier this year, Flexport laid off 20% of its workforce amid lower freight volumes.