Shift Layoffs
August 2022
Shift announced a layoff affecting 0 employees in August 2022. The company operates in the Transportation sector.
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Aug 9, 2022
About
Shift Technologies, a used car e-commerce platform, announced a workforce reduction as part of its updated business plan following its merger with CarLotz. While the exact number of layoffs was not specified, the cuts are a result of operational changes aimed at achieving profitability by 2024. The company, operating in the automotive retail industry, is shifting focus to its most profitable online sales channel and optimizing its inventory, which includes reducing its physical footprint. The announcement was made in August 2022 as Shift merged with CarLotz to combine assets and strengthen its market position.
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