Convoy, a digital freight matching platform, has announced the second round of layoffs this year, citing economic uncertainty, the possibility of a recession, and the negative impact of these on the company’s customers’ businesses. The company has declined to comment on the number of employees that have been laid off. 

Reportedly, Convoy is looking to reorganize its shipper-facing business functions into one unit which will be separately led by its Chief Growth Officer Ryan Gavin. Its Chief Revenue Officer Melissa McCann-Tilton will transition to an advisor to the president and chief executive officer (CEO) role and then depart from Convoy in end-2022.

Analyst QuickTake: Convoy also slashed 7% of its workforce (around 90 employees) earlier in June citing similar reasons. These layoffs come after the company raised USD 260 million in funding this April at a valuation of USD 3.8 billion.