Shift Technologies reduces workforce by 30% after CarLotz merger

  • Online used-car marketplace Shift Technologies cut its workforce by 30% in the first quarter.
  • The layoffs were done to reduce costs and eliminate duplicate positions following the company’s merger with CarLotz.
  • This was announced by the CEO, Jeff Clementz, during an earnings call.
  • Shift Technologies saw its revenue plummet in the fourth quarter.

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