BUZZ-Freight Tech rises on plan to lay off 20% of employees

Shares of supply chain manager Freight Technologies FRGT.O rise 5.5% to $1.25

FRGT to lay off about 20% if its employees to reduce operating costs, co says

As of Dec. 31, 2023, FRGT had 78 full-time employees, according to SEC filling

Co says it is also launching its transportation management system (TMS) software in February to help companies manage and optimize their logistics operations

Says TMS software will help companies track and manage shipments, carriers, routes and documents in real-time

FRGT fell 98% in 2024