Logistics startup Porter lays off 300-350 employees

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Bengaluru-headquartered on-demand logistics platform Porter announced on Tuesday that it has had to lay off staff to rationalise costs. While the company did not reveal how many employees it had let go, people in the know told ET that about 300-350 roles had been cut as the company weighs plans to go public.

In a statement on Tuesday, Porter said: “We’re in the midst of a transition that required a one-time restructuring, aimed at building a stronger, more agile, and financially resilient organisation for the road ahead. As part of this journey, we’ve…



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Logistics startup Porter lays off 300-350 employees



Bengaluru-headquartered on-demand logistics platform Porter announced on Tuesday that it has had to lay off staff to rationalise costs. While the company did not reveal how many employees it had let go, people in the know told ET that about 300-350 roles had been cut as the company weighs plans to go public.

In a statement on Tuesday, Porter said: “We’re in the midst of a transition that required a one-time restructuring, aimed at building a stronger, more agile, and financially resilient organisation for the road ahead. As part of this journey, we’ve…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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