San Francisco based commerce shipping solutions company, Shippo is letting go 20% of its overall workforce crediting the decision to current Macro Economic Conditions.
Based on the current employee headcount on Linkedin, which is around 320 Employees. 20% reduction in force adds to 64 Employees, let go from their positions.
Here is a statement shared by the CEO, Laura Behrens Wu on Linkedin
Yesterday we made the difficult decision to exit roughly 20% of our team members as part of our end of year planning.
This was a really hard decision to make and today I want to focus on the team members we are saying goodbye to. If you are hiring, please reach out to our people team at [email protected] and we will connect you to our amazing departing team members.
While Shippo is well capitalized and shipping remains a mission-critical part of e-commerce; the macroeconomic outlook has changed considerably over the last 12 months and e-commerce growth has slowed. We as a company had to adapt to the new macro environment. We are committed to our mission of helping merchants succeed through excellent shipping and by making this hard decision we are making it possible for us to weather this recession and continue making the right investments. E-commerce is still the future of commerce and we are building the shipping layer of the internet to power that.