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Flexport, a supply chain startup, announces company-wide layoffs that will affect 20% of the company’s workforce. Employees were given notice this week about layoffs, and Flexport will begin contacting individual employees to inform them that their positions have been cut. The layoffs at Flexport are largely due to recent management changes at the company. Previous CEO Dave Clark was replaced by Ryan Peterson, who held the position before Clark and assigned Clark as his successor. Ryan Peterson’s return to CEO has resulted in changes in the CFO and HR chief, an increased effort to rent out unoccupied office space in Flexport buildings, as well as employee layoffs. Peterson stated that these changes to Flexport will position the company to become more profitable in the future.