Shift Layoffs
March 2023
Shift announced a layoff affecting 0 employees (30% of its workforce) in March 2023. The company operates in the Transportation sector.
0
30%
Mar 29, 2023
About
Online used-car marketplace Shift Technologies laid off approximately 30% of its workforce in the first quarter of 2023. The cuts followed its December 2022 merger with CarLotz, as the company sought to reduce costs, eliminate duplicate roles, and restructure its sales organization. This downsizing occurred amid a sharp revenue decline and expanding operating losses, prompting strategic moves to exit some East Coast markets and focus on core West Coast operations. The layoffs were part of a broader effort to rightsize the company's expenses after the challenging integration.
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