In January 2024, logistics technology and last-mile delivery startup Veho laid off approximately 65 corporate employees, representing 19% of its corporate headcount. The company, which had over 910 total employees at the time, stated the cuts were part of a reorganization to improve efficiency, accelerate its path to profitability, and redirect investment toward client needs and growth. This move came despite Veho reporting nearly 90% revenue growth in 2023, following a period of rapid expansion and significant venture capital backing that had previously propelled it to a $1.5 billion valuation.
