Nowports, a Uruguayan-founded logistics technology unicorn, laid off approximately 15% of its workforce in March 2023 as part of a broader wave of tech sector cutbacks. While the company did not disclose the exact number of employees affected, it framed the layoffs as a move to increase efficiency and maintain high performance standards, asserting that its financial position remains strong. Nowports, which provides digital freight forwarding and supply chain solutions, experienced rapid growth following a $150 million Series C funding round in 2022. The layoffs reflect the challenging environment for tech companies at the time, even as the firm continued operations across all its markets.
