Carvana cuts 1,500 jobs on slowing used-car demand
Used-car retailer Carvana Co. is cutting 1,500 jobs, or 8% of its workforce, the company said on Friday, amid waning demand for used cars on the back of sky-high prices and supply shortages.
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Used-car retailer Carvana Co. is cutting 1,500 jobs, or 8% of its workforce, the company said on Friday, amid waning demand for used cars on the back of sky-high prices and supply shortages.
Shares of upstart used-vehicle chain Carvana tumbled another 16% Monday, undercut by the company's struggles with falling prices and waning demand for its products.
The company known for their car vending machines, Carvana, is suspended in Oakland County.
