Welcome to our dedicated page for ShiftPixy news (Ticker: PIXY), a resource for investors and traders seeking the latest updates and insights on ShiftPixy stock.
ShiftPixy, Inc. (NASDAQ: PIXY) is a leading player in the Gig Economy, providing a revolutionary platform for managing part-time and shift-based employment. The company's disruptive human capital management system enables businesses to seamlessly sync work opportunities with the available time slots of shift workers. This innovative approach eliminates the need for formal job interviews and long-term commitments, offering a flexible solution for both job providers and workers.
ShiftPixy’s platform leverages advanced mobile engagement technology to help businesses navigate complex regulatory mandates, minimize administrative burdens, and connect with a ready-to-hire workforce. The company's app allows shift workers, referred to as “shifters,” to enroll, create profiles, and prequalify for open shift opportunities based on their work and training experience. This ensures a higher match rate and more efficient staffing for businesses.
Operating primarily in California and Washington, ShiftPixy generates key revenue from Californian clientele. The company’s gross billings, which include clients' fully burdened payroll costs, serve as a significant operating metric. ShiftPixy is also expanding its national footprint by engaging with industrial, medical, and technology staffing companies.
Recently, ShiftPixy has integrated Artificial Intelligence (AI) into its platform to streamline processes such as onboarding and instant interviews. Powered by IBM's Watson, the AI enhancements allow new employees to complete onboarding quickly and efficiently, while also enabling job seekers to participate in virtual interviews via their smartphones. This technological advancement helps reduce turnover and improve engagement.
In an effort to recapitalize, ShiftPixy has been conducting a reverse stock split and exploring new financial avenues, including a sizeable debt facility to fund acquisitions. The company has three Letters of Intent with firms moving towards definitive agreements, aiming to close one acquisition per month through 2024.
ShiftPixy’s innovative solutions are not only transforming employment practices but are also addressing compliance and equitable employment demands in the growing gig economy. Investors and stakeholders are encouraged to stay updated on the company's progress through ongoing interviews and announcements.
ShiftPixy, Inc. (NASDAQ: PIXY) has introduced its new "Fast Fill" recruiting technology aimed at addressing labor shortages in the quick service restaurant (QSR) sector. This system allows operators to quickly connect with potential shift workers through mobile technology, significantly reducing the time needed to fill positions. The CEO reported that initial tests have sped up hiring from six months to just two weeks. With a focus on the Gig Economy, ShiftPixy’s platform helps businesses manage shift-based employees while navigating compliance issues. The company continues to innovate amid increasing demand for workforce solutions.
ShiftPixy, Inc. (NASDAQ: PIXY) will host a webinar titled How to Build a Bulletproof Bench on December 22, 2022, at 2 PM ET. Co-Founder and CEO Scott Absher will discuss labor market changes and ShiftPixy’s Fast Fill solution to address labor shortages in the hospitality sector. The event targets the evolving workforce dynamics post-COVID-19, emphasizing the need for innovative communication tactics to connect with a new generation of workers. Attendees can register through the company's website.
ShiftPixy (NASDAQ: PIXY), a staffing company focused on the Gig Economy, announced its presentation at the Emerging Growth Conference on December 14, 2022, from 11:25 to 11:55 AM ET. The virtual event aims to connect public companies with a wide investor audience. ShiftPixy offers a platform assisting businesses with shift-based employees in managing compliance and employment practices. With over 25 years of experience, the company strives to simplify workforce management in a rapidly evolving employment landscape.
ShiftPixy, Inc. (NASDAQ: PIXY) has launched its new "Fast Fill" recruiting technology aimed at addressing staffing challenges in the quick service restaurant (QSR) sector. This initiative, accompanied by a "Need Workers?" marketing campaign, utilizes mobile technology to connect directly with potential workers, encouraging immediate sign-ups for available shifts. CEO Scott Absher emphasized the importance of modern tools in reaching today’s workforce effectively, highlighting successful tests that demonstrated faster position fills compared to traditional methods.
ShiftPixy, Inc. (NASDAQ: PIXY) has appointed John Bissell as Chief Operating Officer of ShiftPixy Labs, a new initiative aimed at providing marketing and support for quick service restaurant operators. Bissell brings over 30 years of experience in the restaurant industry, having previously served as COO for a large franchised restaurant group. His expertise in multi-unit operations is seen as a critical asset for the company's growth strategy in the evolving Gig Economy.
ShiftPixy, Inc. (NASDAQ: PIXY) has appointed Rodney Diekema and Eduardo J. Dominguez as Chief Sales Officers for its QSR markets and staffing initiatives, respectively. Diekema aims to revitalize sales with QSR operators post-COVID amid a tight labor market. Dominguez, leveraging extensive industry experience, plans to enhance fill rates and client partnerships using ShiftPixy's innovative platform. Both appointments are designed to drive growth and improve staffing solutions in the Gig Economy, addressing the increasing demand for workforce management.
ShiftPixy (NASDAQ: PIXY) has announced the withdrawal of its application to list its securities on Upstream. The company, focused on the Gig Economy, provides a platform that aids workforce management, especially for shift-based employees. ShiftPixy aims to tackle regulatory compliance and improve employment practices in this sector. The company emphasizes its experience in workers' compensation and compliance, while noting potential risks and uncertainties related to its growth strategy and competition.
ShiftPixy, Inc. (Nasdaq: PIXY) has successfully launched Quelliv Inc., a low-level laser center, through its ShiftPixy Labs. This project, targeting 500 stores in 24 months, aims for a public offering in early 2023. Quelliv specializes in photobiomodulation technology for anti-aging, weight management, and pain management. Influencers like Tony Robbins have endorsed their technology. ShiftPixy's CEO Scott Absher anticipates opportunities for equity interests benefitting shareholders as dividends.
ShiftPixy, Inc. (Nasdaq: PIXY) has launched Quelliv Inc. laser centers in Florida, offering non-invasive treatments for pain, inflammation, and skin health. This initiative is part of ShiftPixy's aim to expand its operations in the Gig Economy through its unique platform. Quelliv plans to establish 500 centers across the U.S. within two years, with existing locations in West Palm Beach, Naples, and St. Petersburg and new ones in Aventura and Sarasota coming soon. Their technology utilizes Genesis One lasers for effective results.
ShiftPixy, Inc. (NASDAQ: PIXY) announced a $5 million private placement of common stock and warrants with a U.S. institutional investor. The agreement includes the sale of 416,667 shares of common stock and warrants for 833,334 shares, priced at $12.00 each. The funds will support general corporate purposes, including working capital and operating expenses. The private placement is anticipated to close by September 23, 2022. The Company has also agreed to lower the exercise price of existing warrants to $0.01 per share.
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