The pre-owned e-commerce platform, CARS24 has announced that the company is laying off around 600 employees due to poor performance.
CARS24 has a nearly 9,000-strong workforce. The six-year-old used-car marketplace has let go of about six percent of its team. The termination not owing to any “cost cuts“. The company calls it “business as usual.”
The company said in a statement, “This is business as usual as these are performance-linked exits that happen every year.”
The company recently announced the launch of seven ‘Mega Refurbishment Labs‘ (MRLs) in India an industry first, and one MRL in the UAE which is among Dubai’s largest ever commercial leasing deals.
Vikram Chopra, Co-founder & CEO, CARS24 had said, “CARS24 has aggressive plans for 2022. We are witnessing greater acceptance amongst customers across the globe for our platform when purchasing their next car.”
“As we continue to build the best infrastructure for the future with an end-to-end digital customer experience, we are confident that this will delight our customers with our high-touch industry experience.” He added.
It is in the process of hiring more globally and said its business is growing in India, the Middle East, Australia, and Southeast Asia.
The e-commerce platform for pre-owned cars had also made news when it revealed that more than a third of its total monthly sales happened via chat support channels.
