Carvana laid off 2,500 employees and chose to do so over Zoom
, the company reported a $260 million net loss, and it blamed the layoffs on the financial headwinds that have come its way and slowed growth.
"Recent macroeconomic factors have pushed automotive retail into recession," a Carvana spokesperson told."While Carvana is still growing, our growth is slower than what we originally prepared for in 2022, and we made the difficult decision to reduce the size of certain operations teams to better align with the current needs of the business."$2.2 billion
to buy a handful of used-car auction sites from Kar Auction Services. Carvana isn’t the first company to turn to a Zoom webinar to conduct layoffs. Late last year, mortgage startup Better.com fired about 10 percent of its workforce in a webinar that caused a similar backlash among those affected. All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
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