Vroom rises after job cuts

Vroom

19/01/2023 10:46

** Shares of online used-car seller Vroom Inc  VRM.O  up
4.2% at $0.99 in premarket trading
    ** VRM has reduced headcount by 20% or about 275 employees,
according to a filing on Wednesday
    ** Combined with prior reductions, this reflects an ~50%
reduction of Vroom employees and contractors since Jan 2022 - Co
    ** Co expects to achieve ~$27 mln of annualized cash savings
as a result of the cut in workforce
    ** Stock fell ~91% in 2022
 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))