Layoffs: Cars24 Lays Off 200 Employees From Various Functions as Part of Restructuring To Meet Long-Term Goals
Autotech platform Cars24 has laid off 200 employees across various functions. The Cars24 layoffs were implemented as a part of a restructuring effort to meet its long-term goals.
New Delhi, April 26: Autotech platform CARS24 has laid off nearly 200 employees across various functions, as part of a restructuring exercise to meet long-term goals. The e-commerce platform for pre-owned vehicles said this is a 슬롯사이트œtough moment슬롯사이트�. 슬롯사이트œOver the past few weeks, we have had to make the difficult decision to part ways with around 200 of our teammates across various functions.
Every person impacted gave this company their time, energy, and belief. That matters deeply, and we are genuinely grateful,슬롯사이트� said Vikram Chopra, co-founder and CEO of Cars24, in a blog post. He denied this decision as an exercise to reduce costs but 슬롯사이트œabout aligning the team and structure with our long-term goals, and correcting where we슬롯사이트™ve lost focus.슬롯사이트� Cars24 offers a wide range of services, including buying and selling of pre-owned cars, financing, insurance, driver-on-demand and more.슬롯 머신 사이트 추천Axis Bank Layoffs: India's Private Bank Asks 100 Senior Employees To Leave Based on Their Performance, CEO Amitabh Chaudhry Says 슬롯사이트˜Nothing Unusual슬롯사이트�.
Chopra further stated that over the last few months, 슬롯사이트œwe realised that some projects did not deliver what we expected. Some roles were added too early. A few hypotheses simply didn슬롯사이트™t hold when tested. And in some cases, we couldn슬롯사이트™t offer the kind of growth or learning that people truly deserve슬롯사이트�.
According to him, no more layoffs expected at this time as 슬롯사이트œthis was a specific, intentional reset, not the beginning of a rolling plan슬롯사이트�. To those impacted, the company is offering severance support, resume and LinkedIn assistance, mentorship, emotional wellness resources, and access to open roles within its network. The online pre-owned car retailer platform reported a loss of Rs 498 crore in FY24, compared to Rs 468 crore in FY23, which is a 6.4 per cent increase.슬롯 머신 사이트 추천Gensol EV Layoffs: BluSmart Parent Gensol Engineering Lays Off Remaining 100-Odd Employees Amid SEBI Probe, Will Shut Operations by April 30.
The company's expenses saw 23.3 per cent increase (year-on-year) to Rs 7,461 crore, from Rs 6,053 crore in FY23, as per its financials. The company's income increased by 25.1 per cent to Rs 6,917 crore, which was Rs 5,530 crore in FY 23. Income from car sales grew by 24 per cent to Rs 6,400 crore last fiscal, which was Rs 5,164 crore in FY23. In December 2021, the company raised $450 million at a valuation of $3.3 billion. Its major investors include Alpha Wave, SoftBank, Tencent and DST Global, among others.
(The above story first appeared on LatestLY on Apr 26, 2025 02:34 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).