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San Francisco-based FreightTech company CloudTrucks, which has raised approximately $142 million since its inception in 2019, has laid off an undisclosed number of its workforce due to a challenging freight market, with a source suggesting up to 40% of employees were affected. CEO Tobenna Arodiogbu emphasized the need to maintain competitive rates and to serve customers efficiently, while expressing gratitude for the contributions of departing employees.
Source: FreightWaves
Like many FreightTech companies that have laid off workers in recent months, CloudTrucks blames the declining freight market for the job cuts.https://t.co/zyfDCIgnES
— FreightWaves (@FreightWaves) June 1, 2023
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