To our valued partners and customers,
Since Clutch launched in 2017 with a vision to provide Canada’s best and easiest car buying and selling experience, our mission has always been to operate with integrity and transparency.
That value has helped the company grow 133% in 2022, deliver on a $200M+ revenue target and propelled us into the final stages of closing a $95 million Series C round. Unfortunately, due to the challenging market conditions, the certainty and timing of the close has been put into question and we have made the difficult decision to refocus our business in Ontario and the Maritimes.
We made the difficult decision and today, we reduced our team by 148 people effective immediately. Our team is doing everything possible to do right by the people impacted through severance packages that exceed requirements, extended health benefits, and support to help them as they seek new positions. We will be circulating this spreadsheet to connect employees with potential hiring managers and have also created an alumni@clutch.ca email we will use to connect this list with potential future employers.
Our mission has always been to provide transparency and peace of mind in every customer interaction. With rising rates, supply chain disruptions, and volatile pricing, that transparency and trust is more important than ever.
Every day, I have witnessed our ability to take the stress, complexity and uncertainty out of one of the largest and most frustrating purchases that an individual will make in their lifetime. We continue to be committed to delivering an incredible experience for our customers and strengthening and focusing the company for the future but today, we need to do what we can to take care of our people.
Sincerely,
Dan
