https://layoffcheck.com/companies/cars24 Layoff and WARN notices reported for Cars24. en-us https://layoffcheck.com/companies/cars24#2025-05 https://layoffcheck.com/companies/cars24#2025-05-347 Tue, 27 May 2025 12:00:00 GMT Cars24 cut 120 jobs in May 2025 as part of a restructuring that shut down two non-core verticals. Eighty positions were eliminated when the company wound down Inspare, its B2B vehicle spare-parts platform, and another 40 came from FourDoor, a car servicing and maintenance app. The cuts followed a separate 200-person reduction the prior month. Founder Vikram Chopra was candid about Inspare's failure, saying the company assumed the market was ready to change but the more it pushed for adoption, the clearer it became that it was not. Cars24, valued at $3.2 billion, said it is IPO-bound and focused on profitable core operations. Affected employees received severance in line with their notice periods, and management said it would try to redeploy some workers to other roles. https://layoffcheck.com/companies/cars24#2025-04 https://layoffcheck.com/companies/cars24#2025-04-377 Sat, 26 Apr 2025 12:00:00 GMT Cars24 laid off around 200 employees in April 2025, primarily from its product and technology teams, as the Gurugram-based used-car marketplace underwent a structural reset. CEO Vikram Chopra attributed the cuts to premature hiring and bets that did not pay off, writing that 'speed without clarity is expensive, and some projects and roles were added prematurely.' He characterized the move as 'not about performance, but about structure and the bets we placed.' The SoftBank-backed company had not raised outside funding in three and a half years since a $450 million round in December 2021. FY24 revenue grew 25% to Rs 6,917 crore, but the net loss widened to Rs 498 crore. Affected employees received severance packages along with career support including resume assistance, mentorship, and access to roles across Cars24's network. https://layoffcheck.com/companies/cars24#2023-05 https://layoffcheck.com/companies/cars24#2023-05-1828 Wed, 03 May 2023 12:00:00 GMT Cars24 reported a workforce reduction in Jakarta in May 3, 2023. https://layoffcheck.com/companies/cars24#2022-05 https://layoffcheck.com/companies/cars24#2022-05-3649 Thu, 19 May 2022 12:00:00 GMT Cars24 reported a workforce reduction in Gurugram in May 19, 2022.