Flexport, a logistics firm with $2.7 billion in enterprise and debt funding, is reportedly planning further layoffs.

That’s in line with Information, which mentioned the agency intends to eradicate round 20% of its roles within the subsequent few weeks. Flexport communications head Liyan Chen declined to touch upon the report in an electronic mail to TechCrunch.

Flexport, which supplies freight forwarding and brokerage companies, introduced comparable cuts in October, when founder Ryan Petersen returned as CEO and slashed the company’s workforce by 20% — affecting about 600 employees.

An extra spherical of layoffs at Flexport would cap a brutal January for tech workers, as giants and startups alike have eradicated a mixed tens of thousands of jobs throughout the trade. Whereas San Francisco-based Flexport wouldn’t be an outlier for making cuts, the timing could be peculiar.

Simply final week, Flexport mentioned it’d raised an extra $260 million in funding from Shopify. The deal deepened the 2 companies ties; again in Might, Shopify offered its logistics enterprise to Flexport in exchange for a 13% stake within the firm.

Flexport’s different buyers embrace Softbank and Andreessen Horowitz.