Logistics startup Porter has laid off over 350 employees — about 18% of its workforce — as it merges its truck and two-wheeler business units to reduce overlap and streamline operations. The company said the move is part of a one-time restructuring to build a stronger, more agile organization.

The company assured affected employees that they will receive support such as severance pay, expanded medical coverage, and career assistance. Founded in 2014, Porter provides transportation, courier, and moving services, working with over 300,000 driver-partners and 2 million SME customers.

Recently, Porter raised $200 million at a unicorn valuation and plans to raise another $100–110 million soon. As it prepares for an IPO in the next 12–15 months, the company turned profitable in FY25 with a profit of ₹55.2 crore and 58% revenue growth to ₹4,306 crore.