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On-demand logistics platform Porter has laid off around 300 to 350 employees as part of its cost rationalization efforts.
The company confirmed the development to the media but did not disclose the exact number of employees affected by the layoffs.
The layoffs come as Porter explores an initial public offering (IPO) and works to streamline operations ahead of potential market entry.
Inc42 reported the development first.
Porter provides B2C and B2B logistics, including goods movement, packers & movers services, and intercity courier and freight…
