Cars24 Layoffs

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CARS24, a used car marketplace startup, is laying off approximately 120 employees as part of a restructuring exercise focused on non-core verticals. This follows a previous round of 200 layoffs over a month earlier. The cuts primarily affect the B2B spare parts platform 'Inspare', which is being shut down, impacting 80 employees, and the car servicing platform 'FourDoor', with 40 layoffs. The company is scaling down or closing these consumer-facing services due to struggles with market adoption and profitability, redirecting efforts toward its core transaction engine. While the exact total employee count isn't specified here, the layoffs reflect a strategic shift to streamline operations. The company has offered severance packages to affected staff, and these developments were reported around late May.

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