Online vehicle retailer Clutch laying off 65% of staff, refocusing business

Grappling with challenging economic conditions, Clutch has announced deep job cuts.

In a letter to staff on Jan. 17, CEO Dan Park said the Toronto-based online vehicle retailer is laying off 148 employees, or approximately 65 per cent of its workforce, as the company refocuses its business in Ontario and the Maritimes.

“Unfortunately, due to the challenging market conditions, the certainty and timing of the close [of a $95 million Series C funding round] has been put into question,” Park said.

In addition to Ontario, Clutch has facilities in Nova Scotia, Saskatchewan, Alberta, and British Columbia.

It remains unclear if the reduction will affect employees across the country or only in specific provinces.

The latest round of cuts comes just months after the company laid off 76 workers in June.

Prior to the June layoffs, reports claim that Clutch employed a total workforce of more than 300 people.

• SEE ALSO: Layoffs in Canada: Which Employers are Slashing Staff?

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