Autobytel is reducing its workforce by 35 percent and exploring a potential sale.
The online auto-marketer said Friday it has cut 75 positions and has hired RBC Capital Markets to explore strategic alternatives.
The company, which offers marketing services such as listing new and used cars for sale from dealers and manufacturers, has been struggling to reduce its cost structure and beef up revenue. Last year, Autobytel began a companywide cost-cutting program.
"While it is never easy to make a change of this magnitude, we believe our actions are necessary to bring the company more closely in line with … Read more