Irvine, Calif., August 10, 2017 – ShiftPixy, Inc., (NASDAQ: PIXY) an on-demand human capital platform that syncs work opportunities from shift-based employers with ready-for-hire workers, today announced that it will open its first regional office in New York City’s historic Grand Central Station. This regional office will house local sales and client support staff.
This expansion represents a key development for the Company as it continues to establish itself as the premier workforce management platform that meets the needs of the gig economy. ShiftPixy’s human capital management services address formidable challenges for businesses that rely heavily upon a contingent workforce, delivering a revolutionary platform for workforce management that helps them navigate regulatory mandates, minimize administrative burdens, and connect with a capable, ready-for-hire workforce.
“New York City is a crucial market for ShiftPixy, and the opening of our office here marks the first step in our ambitious national expansion efforts,” said ShiftPixy’s Co-Founder and CEO, Scott Absher. “Buoyed by the city’s 24-hour nature, and the economic impact of its leisure and hospitality industries, the gig economy here is thriving.
By establishing a presence in New York City, we are primed to meet the needs of its rapidly expanding contingent workforce, while also broadening our client reach and support throughout the entire Northeast region.”
One recent study estimates that the contingent workforce currently accounts for approximately 34 percent of all U.S. workers, and that figure is expected to increase to 43 percent by 2020. Mr. Absher added: “We are confident that ShiftPixy’s seamless platform will increasingly become an essential tool for employers seeking to maximize business efficiency, while providing workers with access to flexible earning opportunities that offer robust employment and health benefits.”
Following the opening of the New York office, ShiftPixy plans to open additional regional offices in Illinois, Florida and Texas as it continues its expansion efforts in order to meet the needs of employers and shift-workers in the gig economy.
ShiftPixy is a disruptive human capital management (HCM) services provider, revolutionizing employment in the gig economy by delivering a next-gen platform for workforce management that helps shift-based employers navigate regulatory mandates, minimize administrative burdens, and connects them with a ready-for-hire workforce. With expertise rooted in management’s nearly 25 years of workers’ compensation and compliance programs, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy. ShiftPixy’s complete HCM ecosystem manages regulatory requirements and compliance in such required areas as paid time off (PTO) laws, insurance and workers’ compensation, minimum wage increases, and the Affordable Care Act (ACA) compliance.
ShiftPixy Safe Harbor Statement:
Our website and other items we publish, including through social media outlets, may contain forward-looking statements, the achievement or success of which involves risks, uncertainties, and assumptions. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. If any of the aforesaid risks or uncertainties materialize or if any of the assumptions proves incorrect, the results of ShiftPixy, Inc., could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of our business model; our ability to execute the Company’s vision and growth strategy; our ability to attract and retain clients; our ability to assess and manage risks; changes in the law that affect our business and our ability to respond to such changes and incorporate them into our business model, as necessary; our ability to insure against and otherwise effectively manage risks that affect our business; competition; reliance on third-party systems and software; our ability to protect and maintain our intellectual property; and general developments in the economy, financial markets, and credit markets. Further information on these and other factors that could affect the financial results of ShiftPixy, Inc., is included in the filings on Forms 1-A and 10-Q and in other filings we make with the Securities and Exchange Commission from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of our website at https://ir.shiftpixy.com/financial-information/sec-filings.
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