Cars24 Layoffs: India슬롯사이트s Online Used Car Selling Platform Lays Off Over 200 Employees Amid Cost-Cutting Measures and Strategic Restructuring, Confirms CEO Vikram Chopra
Cars24, India슬롯사이트s online used car selling platform, has laid off over 200 employees as part of its cost-cutting measures and strategic restructuring. The Cars24 layoffs was confirmed by CEO Vikram Chopra.
Gurugram, April 26:슬롯 머신 사이트 추천Cars24, an online platform known슬롯 머신 사이트 추천for selling used cars, has슬롯 머신 사이트 추천reportedly laid off슬롯 머신 사이트 추천around 200 to 250 employees. The Cars24슬롯 머신 사이트 추천layoffs are Implemented슬롯 머신 사이트 추천as a part of cost-cutting measures and future hiring plans, according to슬롯 머신 사이트 추천reports. The슬롯 머신 사이트 추천e-commerce platform for second-hand vehicles reportedly laid off슬롯 머신 사이트 추천up to 250슬롯 머신 사이트 추천employees this month슬롯 머신 사이트 추천from its product and strategy teams.
According to the reports, the Cars24 layoffs were announced at the time of a significant moment as the rival슬롯 머신 사이트 추천company슬롯 머신 사이트 추천Spinny secured USD 131 million in fresh funding from Accel's Leadership Fund.슬롯 머신 사이트 추천With the funding, Spinny Cars would double down on the selection and portfolios globally, said a슬롯 머신 사이트 추천슬롯 머신 사이트 추천by슬롯 머신 사이트 추천Entrackr.슬롯 머신 사이트 추천Axis Bank Layoffs: India's Private Bank Asks 100 Senior Employees To Leave Based on Their Performance, CEO Amitabh Chaudhry Says 슬롯사이트Nothing Unusual슬롯사이트.
Cars24 CEO Vikram Chopra stated that슬롯 머신 사이트 추천the decision of layoffs was tough슬롯 머신 사이트 추천and슬롯 머신 사이트 추천confirmed that it affected over 200 employees across various functions. Chopra슬롯 머신 사이트 추천said that he was슬롯 머신 사이트 추천"deeply grateful" for the contributions of the laid-off Cars24 employees. The CEO said the Cars24 layoffs were not about the performance but슬롯 머신 사이트 추천the "structures and bets we placed". He said that슬롯 머신 사이트 추천the company added some permanent roles to the project.
Cars24had secured USD 450 million on December 21 from leading investors슬롯 머신 사이트 추천such as Soft Bank, DST Global, Falcon Edge's Alpha Wave and Tencent. The funding슬롯 머신 사이트 추천increased슬롯 머신 사이트 추천the슬롯 머신 사이트 추천value of the슬롯 머신 사이트 추천company to USD 3.3 billion. Cars24 did not raise슬롯 머신 사이트 추천any further funds during external funding in over three and half슬롯 머신 사이트 추천years.슬롯 머신 사이트 추천Employment Growth in India: Country Witnessing Job Growth at Faster Pace Than Working-Age Population, Says Work Bank Report.
Besides this,슬롯 머신 사이트 추천the슬롯 머신 사이트 추천reports said that the슬롯 머신 사이트 추천company had not filed for FY25 numbers. In FY24, the company had INR 6.917 crore in profit with 25% YoY growth in revenue. The company posted a net loss of INR 498 crore and an adjusted EBITDA loss of INR 318 crore.
(The above story first appeared on LatestLY on Apr 26, 2025 01:15 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).