Carvana to cut 2,500 staff as it struggles with overcapacity

Carvana, a used-car retailer in the United States that raised at least nine figures worth of venture capital while private before going public, announced 2,500 layoffs today. The staffing cuts, detailed in a filing with the U.S. Securities and Exchange Commission, are part of the company’s “previously announced plans to better align staffing and expense levels with sales volumes,” Carvana wrote.

Per the same filing, the company will offer “impacted team members” the “opportunity to receive four weeks of pay plus an additional week for every year they have been with Carvana,” along with “the opportunity to receive extended healthcare,” among other things.

source-techcrunch.com/2022/05/10/carvana-to-cut-2500-staff-as-it-struggles-with-overcapacity/