Freightos Limited (NASDAQ:CRGO) said it will reduce its global workforce by up to 15% as part of a cost optimization program aimed at improving operational efficiency and helping the company reach adjusted EBITDA breakeven by the end of 2026.
The freight technology platform expects to record roughly $1.3 million in one-time restructuring expenses, mainly tied to severance payments and employee benefits, during the first nine months of the year. The company estimates the measures will produce annualized savings of about $4.5 million beginning in the fourth quarter of 2026.
“These types of decisions are very difficult, but this is a necessary step to ensure Freightos is positioned for long-term, sustainable growth in a dynamic market,” said Pablo Pinillos, recently appointed chief executive officer of Freightos.
Freightos said the restructuring is consistent with its previously announced timeline to achieve adjusted EBITDA breakeven by the end of 2026. The company added that it will continue investing in growth initiatives related to pricing, procurement and booking capabilities that support its digital freight marketplace.
Headquartered in Barcelona, Freightos operates what it describes as a vendor-neutral platform for global freight pricing, booking and procurement. The restructuring is intended to strengthen the long-term scalability of the company’s multimodal pricing, quoting and booking system while maintaining its broader strategy of building a comprehensive global freight platform.
Freightos also said it plans to continue using advanced technologies, including artificial intelligence, to streamline operations and improve efficiency. Its platform connects airlines, ocean carriers, freight forwarders, and importers and exporters worldwide.