Freightos Announces Workforce Reduction Plan to Save $4.5M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
Should l Buy CRGO?
Freightos announced a cost optimization plan that includes a global workforce reduction of up to 15%, to improve operating efficiency and support its previously communicated path to adjusted EBITDA breakeven by the end of 2026. The company currently estimates to incur approximately $1.3M of one-time restructuring charges, primarily related to severance and employee benefits, throughout the first nine months of the year. Freightos expects the restructuring to generate annualized cost savings of approximately $4.5M, starting Q4 2026.
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About CRGO
Freightos Limited provides a vendor-neutral booking and payment platform. The Company connects thousands of carriers, freight forwarders, and importers and exporters around the world for air, ocean and trucking freight pricing, booking and shipment management. Its products include the Freightos Marketplace, WebCargo, WebCargo for Airlines, Shipsta by Freightos, 7LFreight by WebCargo, and Clearit. It provides a range of solutions, including WebCargo’s booking platform, tools and data solutions for carriers and forwarders, Freightos.com’s digital freight booking and management platform for importers and exporters, its data solutions or Clearit, its digital customs broker. It also operates Freightos Terminal, a freight market intelligence solution that offers data on real-time pricing, transit times, the Freightos Air Index (FAX) and Freightos Baltic Index, and a news feed. It has over 1,800 freight forwarders across 90 countries that use WebCargo by Freightos for eBookings.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Freightos Announces Global Workforce Reduction Plan
- Workforce Reduction: Freightos plans to reduce its global workforce by up to 15% to enhance operational efficiency and support its goal of achieving Adjusted EBITDA breakeven by the end of 2026, thereby ensuring long-term sustainable growth in a dynamic market.
- Restructuring Costs: The company estimates incurring approximately $1.3 million in one-time restructuring charges over the first nine months of 2026, primarily related to severance and employee benefits, which will exert some pressure on short-term financial performance.
- Expected Cost Savings: The restructuring is projected to generate annualized cost savings of about $4.5 million starting in Q4 2026, which will help improve the company's financial health and enhance its competitive position in the market.
- Ongoing Technology Investment: Freightos will continue to invest in its multimodal pricing, quoting, and booking platform, leveraging advanced technologies, including AI, to improve efficiency and streamline operations, addressing the needs of global supply chain organizations and driving business growth.
See More
Freightos Files Annual Report for FY 2025
- Annual Report Filing: Freightos filed its annual report on Form 20-F for the fiscal year ending December 31, 2025, with the SEC on March 26, 2026, ensuring compliance and transparency in its financial reporting.
- Report Access: Shareholders can access the annual report electronically via Freightos' investor relations website or the SEC's site, and the company offers free hard copies upon request, enhancing shareholder communication and engagement.
- Platform Leadership: As a leading vendor-neutral global freight booking platform, Freightos connects airlines, ocean carriers, and thousands of freight forwarders, driving efficiency and agility in the trillion-dollar international freight market, highlighting its significant market position.
- Real-Time Data Provision: Freightos provides real-time industry data through Freightos Terminal, including the world's leading spot pricing indexes, reinforcing its leadership in the freight industry and enabling clients to make informed decisions.
See More
Freightos Partners with Air Serbia to Expand Payment Network
- Payment Network Expansion: Freightos announced its partnership with Air Serbia to further expand its cargo booking platform in Europe, which is expected to significantly enhance the adoption of Freightos Pay, particularly for freight forwarders without IATA accreditation, thus overcoming a major barrier to digital transactions.
- Market Coverage Enhancement: Once integrated, Air Serbia's air cargo will be available for e-bookings across the United States and its entire European network, covering multiple countries from Albania to Switzerland, greatly broadening the market reach of the Freightos platform.
- Financial Risk Reduction: The Freightos Pay solution streamlines the financial aspects of air cargo bookings by ensuring payments from a broader range of freight forwarders, reducing financial risks for airlines while helping forwarders without existing airline accounts access carriers and grow their customer base.
- Operational Efficiency Improvement: The integration of Air Serbia will reduce administrative work, allowing the airline to focus on delivering excellent service to its cargo customers, reflecting the central role of digital transformation in its growth strategy and is expected to drive market accessibility and efficiency.
See More
Freightos Appoints New CEO Pablo Pinillos Effective March 2026
- Executive Appointment: Freightos announced the appointment of Pablo Pinillos as CEO, effective March 16, 2026, following his tenure as CFO since March 2025 and Interim CEO since January 2026, reflecting the company's confidence in his leadership capabilities.
- Leadership Experience: With over 20 years of global leadership experience in finance, strategy, and operations, Pinillos is expected to provide strong strategic guidance that will enhance Freightos's competitive position in the international freight industry.
- CFO Search Initiation: Following Pinillos's appointment, Freightos is initiating a search for a Chief Financial Officer, a move that will lay the groundwork for future financial management and strategic development, ensuring stability within the executive team.
- Previous Roles: Prior to joining Freightos, Pinillos served as CFO at Coincover and Bitrise, and he has nearly 14 years of senior leadership experience at Qlik, which will bring valuable industry insights and management expertise to Freightos's growth.
See More
Freightos Appoints New CEO to Drive Global Expansion
- Leadership Change: Freightos has appointed Pablo Pinillos as CEO effective March 16, 2026, who has served as CFO since March 2025, demonstrating a deep understanding of the business and strategic execution capabilities, which are expected to drive sustainable growth in a complex global market.
- Financial Goals: Pinillos has committed to achieving financial break-even by Q4 2026, indicating that the company will focus on expanding its solutions business and enhancing customer engagement in the short term to drive transaction growth across the platform and improve market competitiveness.
- Extensive Experience: With over 20 years of global leadership experience, Pinillos previously served as CFO at Coincover and Bitrise, successfully guiding organizational transformations during rapid scaling, and his nearly 14-year tenure at Qlik provided a solid foundation for his leadership at Freightos.
- Industry Impact: As a leading digital platform in the international freight industry, Freightos connects airlines, ocean carriers, and thousands of freight forwarders, and Pinillos's leadership is expected to further advance the digitalization of global trade, enhancing industry efficiency and resilience.
See More
Freightos Appoints New CEO to Drive Growth
- Leadership Change: Freightos has appointed Pablo Pinillos as CEO effective March 16, 2026, succeeding founder Zvi Schreiber, showcasing his deep understanding of the business and strategic execution capabilities developed during his tenure as CFO and Interim CEO.
- Growth Strategy: Pinillos aims to achieve financial break-even in Q4 while focusing on expanding the solutions business, particularly in ocean and procurement management, to drive sustainable transaction growth across the platform and enhance market competitiveness.
- Extensive Experience: With over 20 years of global leadership experience, Pinillos previously served as CFO at Coincover and Bitrise, and played a pivotal role in Qlik's IPO and subsequent private equity acquisition during his nearly 14-year tenure there.
- Digital Vision: Pinillos emphasizes his commitment to digitalizing international freight to improve global trade efficiency, leveraging disciplined execution and customer engagement to drive long-term growth for the company.
See More
Freightos Announces Global Workforce Reduction Plan
- Workforce Reduction: Freightos plans to reduce its global workforce by up to 15% to enhance operational efficiency and support its goal of achieving Adjusted EBITDA breakeven by the end of 2026, thereby ensuring long-term sustainable growth in a dynamic market.
- Restructuring Costs: The company estimates incurring approximately $1.3 million in one-time restructuring charges over the first nine months of 2026, primarily related to severance and employee benefits, which will exert some pressure on short-term financial performance.
- Expected Cost Savings: The restructuring is projected to generate annualized cost savings of about $4.5 million starting in Q4 2026, which will help improve the company's financial health and enhance its competitive position in the market.
- Ongoing Technology Investment: Freightos will continue to invest in its multimodal pricing, quoting, and booking platform, leveraging advanced technologies, including AI, to improve efficiency and streamline operations, addressing the needs of global supply chain organizations and driving business growth.
See More
Freightos Files Annual Report for FY 2025
- Annual Report Filing: Freightos filed its annual report on Form 20-F for the fiscal year ending December 31, 2025, with the SEC on March 26, 2026, ensuring compliance and transparency in its financial reporting.
- Report Access: Shareholders can access the annual report electronically via Freightos' investor relations website or the SEC's site, and the company offers free hard copies upon request, enhancing shareholder communication and engagement.
- Platform Leadership: As a leading vendor-neutral global freight booking platform, Freightos connects airlines, ocean carriers, and thousands of freight forwarders, driving efficiency and agility in the trillion-dollar international freight market, highlighting its significant market position.
- Real-Time Data Provision: Freightos provides real-time industry data through Freightos Terminal, including the world's leading spot pricing indexes, reinforcing its leadership in the freight industry and enabling clients to make informed decisions.
See More
Freightos Partners with Air Serbia to Expand Payment Network
- Payment Network Expansion: Freightos announced its partnership with Air Serbia to further expand its cargo booking platform in Europe, which is expected to significantly enhance the adoption of Freightos Pay, particularly for freight forwarders without IATA accreditation, thus overcoming a major barrier to digital transactions.
- Market Coverage Enhancement: Once integrated, Air Serbia's air cargo will be available for e-bookings across the United States and its entire European network, covering multiple countries from Albania to Switzerland, greatly broadening the market reach of the Freightos platform.
- Financial Risk Reduction: The Freightos Pay solution streamlines the financial aspects of air cargo bookings by ensuring payments from a broader range of freight forwarders, reducing financial risks for airlines while helping forwarders without existing airline accounts access carriers and grow their customer base.
- Operational Efficiency Improvement: The integration of Air Serbia will reduce administrative work, allowing the airline to focus on delivering excellent service to its cargo customers, reflecting the central role of digital transformation in its growth strategy and is expected to drive market accessibility and efficiency.
See More
Freightos Appoints New CEO Pablo Pinillos Effective March 2026
- Executive Appointment: Freightos announced the appointment of Pablo Pinillos as CEO, effective March 16, 2026, following his tenure as CFO since March 2025 and Interim CEO since January 2026, reflecting the company's confidence in his leadership capabilities.
- Leadership Experience: With over 20 years of global leadership experience in finance, strategy, and operations, Pinillos is expected to provide strong strategic guidance that will enhance Freightos's competitive position in the international freight industry.
- CFO Search Initiation: Following Pinillos's appointment, Freightos is initiating a search for a Chief Financial Officer, a move that will lay the groundwork for future financial management and strategic development, ensuring stability within the executive team.
- Previous Roles: Prior to joining Freightos, Pinillos served as CFO at Coincover and Bitrise, and he has nearly 14 years of senior leadership experience at Qlik, which will bring valuable industry insights and management expertise to Freightos's growth.
See More
Freightos Appoints New CEO to Drive Global Expansion
- Leadership Change: Freightos has appointed Pablo Pinillos as CEO effective March 16, 2026, who has served as CFO since March 2025, demonstrating a deep understanding of the business and strategic execution capabilities, which are expected to drive sustainable growth in a complex global market.
- Financial Goals: Pinillos has committed to achieving financial break-even by Q4 2026, indicating that the company will focus on expanding its solutions business and enhancing customer engagement in the short term to drive transaction growth across the platform and improve market competitiveness.
- Extensive Experience: With over 20 years of global leadership experience, Pinillos previously served as CFO at Coincover and Bitrise, successfully guiding organizational transformations during rapid scaling, and his nearly 14-year tenure at Qlik provided a solid foundation for his leadership at Freightos.
- Industry Impact: As a leading digital platform in the international freight industry, Freightos connects airlines, ocean carriers, and thousands of freight forwarders, and Pinillos's leadership is expected to further advance the digitalization of global trade, enhancing industry efficiency and resilience.
See More
Freightos Appoints New CEO to Drive Growth
- Leadership Change: Freightos has appointed Pablo Pinillos as CEO effective March 16, 2026, succeeding founder Zvi Schreiber, showcasing his deep understanding of the business and strategic execution capabilities developed during his tenure as CFO and Interim CEO.
- Growth Strategy: Pinillos aims to achieve financial break-even in Q4 while focusing on expanding the solutions business, particularly in ocean and procurement management, to drive sustainable transaction growth across the platform and enhance market competitiveness.
- Extensive Experience: With over 20 years of global leadership experience, Pinillos previously served as CFO at Coincover and Bitrise, and played a pivotal role in Qlik's IPO and subsequent private equity acquisition during his nearly 14-year tenure there.
- Digital Vision: Pinillos emphasizes his commitment to digitalizing international freight to improve global trade efficiency, leveraging disciplined execution and customer engagement to drive long-term growth for the company.
See More
