It. Hey, everybody, economic ninja here. I hope you're doing well. We got story out of the supply chain. A large company laying off 15% of its global workforce and we're talking about four kites. And they just dismissed a key executive. The supply chain is shrinking, right? People are buying less goods, services. We're seeing this in Lowe's and home Depot earnings. We're seeing this in UPS and FedEx numbers. 

We're seeing it in Amazon information. And there are layoffs and bankruptcies in the trucking industry. Okay? This is a key sign that the economy is rolling over, that there is not going to be a soft landing for every time a company lays off its members. There are less people that have money to pay bills. Okay, so this is out of freight waves. It says supply chain visibility platform for kites confirmed that it has reduced its workforce across offices in the United States and Europe by 15% this week. 

With these changes in place, along with the recent alignment of our leadership team, we are accelerating our timeline to profitability again. This is why you see these stocks going up in the stock market. As they're laying people off, they're going, we're that much closer. If we just fire a bunch of people, we're that much closer. Remember, it's based off of they're making less money and the freight industry is hemorrhaging. 

It says here, they say they're accelerating their timeline to profitability, taking our burn rate to zero. That's what employees are to them, burn rate right now and reducing our reliance on capital markets. A four Kites person told Freightways. The move included the departure of another key executive, Glenn Kopiki, vice president of strategy. I guess he didn't strategize well enough. Kopiki played a crucial role in leading industry strategy and go to market execution, particularly in sectors like food and beverage, consumer packaged goods and logistics solutions. 

Kopiki told freight waves he is excited about what is next for his career in logistics. Sucks. All right. It's painful. It is painful to say goodbye to so many talented, passionate and committed employees who will be impacted by these decisions. We are committed to ensuring that every person impacted by this action is taken care of and we are working closely with those team members on financial and career assistance. 

Said for kites past leadership shakeup, they're going to a little bit more info here. It says this move follows Forkites reshuffling in November of its leadership team with President Rocky Submerian's departure and Pyra. I can't even pronounce that one assuming the role of chief consumer customer officer Sean Fallon also rejoined the team as chief strategy officer. Blah blah blah, says Forkites, valued at a billion dollars last year, has experienced challenges amid a tough market for supply chain visibility platforms. 

Industrywide factors including a depressed freight market and reduced investment deals have impacted venture backed startups. This only gets me really excited because one of my companies works in this industry and as everything comes down it's going to be easier for me and my partners to negotiate deals. Actually, for me, I've been preparing for this. But a lot of companies in the freight world have not been. The workforce reduction and leadership changes align with the company's strategy to navigate these challenges and position itself for success. 

We have continued to lead the marketing innovation and we are the most impressive customer roster in the business. We are 100% confident that we are poised for sustainable growth and long term success that will enable us to deliver constant value to our customers, said Forkites. Now that's obviously what any CEO says when everything's falling apart. Just so you know it's going to be fun. Never mind. Can't say that. 

Point being is this supply chain is having issues. My heart goes out to all the truckers that are involved in this and I please know it is time to start a side hustle. Go find side hustles, figure out ways of making money. Diversify your income. There are so many people that they rely on one source of income and that is it. I've always had side hustles on top of this. 

But the point for me bringing this story to this channel and thank you to everybody that's hit the subscribe button, we just hit 440,000. That is a key number with the tubes. Just so you know, I'm really excited, but it's 400,001 so it could be taken away tomorrow or today. But my point being is that the reason why I bring these stories is because it's so vital that we watch what's going on in the supply chain and the trucking industry. 

They are the first line of awareness when you see a market roll over because it's the first sign that the consumer is not buying anything. All right, we have both the global supply chain system slowing down, the baltic index we're seeing shrinking. Now, something that's going to add some craziness is the, you know, being shut off right now with all of the attacks. So you're going to see some weird distortions and that's yet one other way to sort of hide what's really going on in main Street USA, and that is that people are getting laid off, people are spending less money. 

But when you start to see these bottlenecks, like at the Panama Canal or at, let's say, the red sea, you're going to see distortions this spring where things seem harder to get. But it's not for the reasons why you think so. I think it's really important that we watch this again. I think to everyone that's supporting this channel, really appreciate it. Let me know down below if you're in the trucking industry, what you're seeing. 

I love going through your comments, and I know that there are a lot of people in the trucking industry, in the logistics industry that follow this channel. So thank you to everyone involved. Appreciate it. Have a great day. The economic ninja is out. .