Cars24 Layoffs
April 2025
Cars24 announced a layoff affecting 200 employees in April 2025. The company operates in the Transportation sector.
200
Apr 26, 2025
Company Information
- Industry
- Transportation
- Country
- IN
- Region
- Gurugram, Non-U.S.
About
Cars24, an Indian e-commerce platform for used cars valued at $3.3 billion, has laid off approximately 200-250 employees in late April 2025. This represents a significant workforce reduction, though the exact percentage relative to total employees is not specified. The layoffs, primarily affecting product and technology teams, are a strategic cost-cutting measure. CEO Vikram Chopra explained the decision stemmed from restructuring and over-hiring into premature projects, emphasizing a need for more deliberate growth. This move occurs amidst competitive pressure, as rival Spinny secured major funding, and follows Cars24's own substantial $450 million raise in late 2021. Despite reporting increased revenue of nearly Rs 6,917 crore in FY24, the company continues to operate at a significant net loss.
Source
View Sourceentrackr.comMore Transportation Layoffs
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support@layoffs.nlCompany Information
- Industry
- Transportation
- Country
- IN
- Region
- Gurugram, Non-U.S.