ShipBob, a Bain Capital Ventures-backed e-commerce fulfillment startup, laid off 7% of its workforce on August 25, 2022, as the post-pandemic online shopping boom cools. The company, which operates fulfillment warehouses in the US, UK, and Europe and was valued at over $1 billion, cited a greater-than-expected downturn in e-commerce demand. Affected roles included recruiters, software engineers, and much of the quality assurance team. This move reflects broader challenges in the logistics and fulfillment sector, where companies like Stord and FarEye have also cut staff. Laid-off employees received severance packages, including 10 weeks of pay and COBRA coverage, as ShipBob adjusts to a shrinking market after rapid expansion.
