CloudTrucks Layoffs 40% Of Staff Amid Tough Market

San Francisco-based FreightTech company CloudTrucks, which has raised approximately $142 million since its inception in 2019, has laid off an undisclosed number of its workforce due to a challenging freight market, with a source suggesting up to 40% of employees were affected. CEO Tobenna Arodiogbu emphasized the need to maintain competitive rates and to serve customers efficiently, while expressing gratitude for the contributions of departing employees.

Source: FreightWaves