{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-22-072785","form_type":"8-K/A","ticker":null,"cik":"0001762322","company_name":"SHIFT TECHNOLOGIES, INC.","filed_at":"2022-11-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:52.028046+00:00","generated_at":"2026-06-21T18:43:26.536498+00:00","sec_items":["2.05"],"event_type":"other_material","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Shift Technologies records $29.2M restructuring charges for closure of 7 hubs; 60% workforce reduction","bullets":["Total restructuring charges of $29.2M in Q3 2022: inventory losses $8.5M, software decommissioning $6.5M, severance/CEO transition $3.7M.","Workforce reduction of approximately 60% due to closure of 7 inventory, reconditioning, and storage hubs.","Only $0.9M of charges expected to result in future cash expenditures; restructuring substantially completed by Sept 30, 2022.","Closures part of strategic business review; detailed cost estimates provided in this 8-K amendment."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-22-072785","json":"https://secwatch.observer/filing/0001213900-22-072785.json","markdown":"https://secwatch.observer/filing/0001213900-22-072785.md","text":"https://secwatch.observer/filing/0001213900-22-072785.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1762322/000121390022072785/0001213900-22-072785-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1762322/000121390022072785/ea168463-8ka1_shifttech.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-21T18:43:26.536498+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"b35b6b6a4992727475e875e59988012d289cfb7f","claim":"SHIFT TECHNOLOGIES, INC. announced a restructuring with charges of Total $ 29,194 affecting 7 inventory inspection, reconditioning, and storage facilities, or hubs (approximately 60%).","evidence_excerpt":"on early decommissioning of capitalized internal-use software 6,498 Severance, retention, and CEO transition 3,667 Labor and other costs incurred to close hubs 4,901 Total $ 29,194 Of the charges detailed in the table above, $0.9 million is expected to result in future cash expenditures as of the date of this filing. 1 SIGNATURE Pursuant to the requirements","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1762322/000121390022072785/0001213900-22-072785-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"Total $ 29,194"},{"label":"Affected area","value":"7 inventory inspection, reconditioning, and storage facilities, or hubs"},{"label":"Headcount","value":"approximately 60%"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}