Vroom realigns its business model, reduces employee head count & appoints new CEO

Vroom Inc. is realigning its business model to prioritize profitability over growth, reduce operational expenses and maximize liquidity, the company’s new chief executive Tom Shortt said during its first quarter conference call on Tuesday.

The realignment also calls for company to reduce its employee head count by 270 or approximately 14%, said Bob Krakowiak, Vroom’s chief financial officer, who was also on the call.

Vroom announced the day before the Q1 earnings call that …

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