Bezos-backed startup Convoy prepares for sale, slashes jobs

The once-buzzy startup has already whittled its employees down to about 500 people from a peak of 1,500, and was on track to run out of money in a matter of weeks, sources said. — Bloomberg

Seattle: Convoy Inc, a Seattle-based trucking startup whose investors include Jeff Bezos and Bill Gates, will slash hundreds of jobs in the coming days as it prepares to woo prospective buyers, according to a person familiar with the matter.

The once-buzzy startup, often described as the Uber for trucking, has already whittled its employees down to about 500 people from a peak of 1,500, and was on track to run out of money in a matter of weeks, said people familiar with the matter.