Form 8-K SHIFT TECHNOLOGIES, INC. For: Sep 05
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Shift (SFT) to Cut 25% of Staff
September 5, 2023 5:00 PM EDTOn September 5, 2023, Shift (NASDAQ: SFT) announced the closing of its Portland-based vehicle storage and sales facility and additional streamlining of its corporate organization (collectively, the Restructuring). The Restructuring will result in an estimated workforce reduction of approximately 25%. The Company expects that the Restructuring and associated workforce reduction will result in total annualized cost savings of up to $23 million, which includes up to $13 million in... More
