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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
Special damages, also known as consequential damages, are extra costs not automatically covered by the carrier. They arise from the consequences of damaged or delayed freight. Here's what brokers and shippers need to know.
Darren also revealed they’re developing a new platform designed exclusively for carriers.
In 2023, the top 10 brokerages earned $53.25 billion in gross revenue. In 2024, that figure dropped to $43.77 billion — an almost 18% decrease.
Revealed through a detailed look at data from ISO's network of brokers. Explore key insights from the ISO Service Index Benchmark Report.
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