Carvana Lays Off Thousands Then Buys Car Auction Company In Expansion Plan

Carvana, the used car dealer founded a decade ago whose meteoric growth was met with a fair number of problems, said Tuesday that it would lay off 2,500 employees, with executives going unpaid for the rest of 2022. In a filing with the Securities and Exchange Commission, Carvana called the move a “right-sizing” initiative.
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