Shift (SFT) Announces Restructuring to Reduce Cost Structure
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Shift Announces Restructuring to Streamline Operations and Reduce Cost Structure
July 11, 2023 4:05 PM EDTSAN FRANCISCO, July 11, 2023 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (Nasdaq: SFT), a consumer-centric omnichannel used auto retailer, today announced a plan to restructure and reduce the Companys workforce to better align people and responsibilities with the Companys omnichannel sales strategy. The restructuring plan is the result of a review by the Companys recently appointed CEO Ayman Moussa as well as evaluations conducted as part of the Companys review of strategic alternatives. The new structure is designed to improve the customer experience, increase efficiencies throughout the sales process, and better leverage our... More
