Stord Layoffs
June 2022
Stord announced a layoff affecting 59 employees (8% of its workforce) in June 2022. The company operates in the Logistics sector.
59
8%
Jun 2, 2022
About
Supply-chain technology startup Stord laid off 59 employees, representing about 8% of its 700-person workforce, on June 2, 2022. This move came as a shock to many, occurring less than a month after the company announced $120 million in new Series D funding and a $1.3 billion valuation. Leadership attributed the layoffs to having hired too quickly, despite previously stating the new capital was a "war chest" to weather tough times. The company, which provides a cloud-based logistics platform connecting warehouses and offering fulfillment services, emphasized it remains in a strong financial position with record revenue growth. This event reflects broader economic pressures and a wave of layoffs impacting the tech and supply-chain sectors.
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