TransportationGB

Cazoo Layoffs

June 2022

Cazoo announced a layoff affecting 750 employees (15% of its workforce) in June 2022. The company operates in the Transportation sector.

People Affected

750

Percentage

15%

Announced Date

Jun 7, 2022

About

In September 2022, UK-based used car marketplace Cazoo announced its complete exit from the European Union, resulting in an additional 750 layoffs. Combined with 750 job cuts announced in June, this brought the total to 1,500 employees laid off in 2022, representing 30% of its workforce. The company, which had expanded into the EU earlier in the year, cited a strategic review and mounting financial losses—reporting £243 million in losses for the first half of 2022. By withdrawing from Germany, Spain, France, and Italy to focus solely on the UK market, Cazoo aims to achieve significant cost savings and accelerate its path to profitability amid challenging macroeconomic conditions, including inflation and supply chain issues.