Hyperdrive
Carvana to Cut 1,500 Jobs as Online Auto Dealer’s Troubles Mount
- Company has struggled with a slowdown in the used-car market
- Carvana’s stock has lost nearly all of its value this year
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Carvana Co. said it will eliminate about 1,500 jobs, adding to the growing list of layoffs across corporate America as the online vehicle dealer grapples with a slowdown in the used-car market.
The cuts amount to about 8% of the company’s workforce, a spokesperson confirmed Friday.