Carvana plans to lay off 12% of its workforce upon reaching an expansion agreement

Online car dealership carvana plans to lay off 12% of its workforce after striking an operations expansion deal that forced the company to borrow on onerous terms.

CEO of Carvana Ernie Garcia III said in an email to employees that the company had exceeded its growth strategy and would cut about 2,500 workers, focused on business operations. The email was viewed by The Wall Street Journal.


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