Listen: E-commerce retailers focus on cost reduction in Q1

Carvana, Shift and Vroom announced job cuts last week

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Automotive retailers Shift and Vroom focused on profitability rather than growth in the first quarter following rising interest rates and declining investor sentiment. Vroom in Q1 reduced its workforce by 270 positions as it prioritized cost reduction. The company’s cuts followed Carvana’s move to lay off 2,500 employees; Shift, meanwhile reduced its team by 10. […]

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