Truck It In, a Karachi-based freight marketplace startup, announced that it would lay off 30% of its workforce.
Tell me more: Truck It In announced that the global economic downturn had led it to evaluate its growth plans.
As a result, it will be reducing headcount by 30% (an estimated 60+ people), according to ProPakistani.
Make it make sense: Truck It In believes it can achieve profitability by optimizing operations and simplifying infrastructure.
It remains optimistic about the future of freight in Pakistan and believes it can achieve sustained growth over time.
You should know: Truck It In was founded by Muhammad Sarmad Farooq, Raza Afzal, and Haider Navid in 2020.
To date, it has raised $17.5 million in funding.
Zoom out: After Airlift and SWVL, Truck It In is the 3rd tech company in Pakistan to have announced layoffs in the past two weeks.