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Convoy adjusts staffing levels in response to market conditions, underscoring the challenges and resilience in the logistics sector.
The Seattle-based trucking marketplace Convoy has conducted another round of layoffs, marking its fourth within a year. The reduction has mainly affected the company's customer-experience operations team, originally beefed up in anticipation of a freight market rebound. However, the lagging rebound and efficiencies gained from their new service model prompted the company to adjust staffing levels.
Despite this setback, Convoy, co-founded by Amazon veterans Dan Lewis and Grant Goodale, remains one of Seattle's most valued private startups, demonstrating the resilience and adaptability required to navigate the fluctuating freight market.
The slowdown in cargo demand and emphasis on extending runways also led to layoffs in the freight business, including DHL, GXO Logistics, U.S. Xpress, and Convoy.
— INSIDE.COM (@inside) June 8, 2023
Now, here's a reason for optimism🤞 in truck freight:
3/5
Plus, a carrier pleading guilty to mob money laundering while still FMCSA-active, Iran's first post-ceasefire attack and what it means for diesel surcharges, FedEx Freight's first earnings as a standalone company, and more in today's newsletter.
Plus, the offshore dispatchers your safety score can't catch, why Hormuz stays closed even after the war ends, what Triumph Financial's invoice volumes say about where freight is headed, and more.
Plus, diesel's rising price streak finally snaps, a 13-year shipper relationship ends in a $726K lawsuit, Congress takes a real swing at cargo theft, and more in today's newsletter.
Plus, C.H. Robinson's 2026 rate forecast update, Hormuz tankers still stuck, a $1M LEGO heist, and more.
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