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Used Car Ecommerce Platform Cars24 Fires 600 Employees To Cut Cost

With this latest development, Cars24 has let go of around 6 per cent of the total employee count

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SoftBank and Alpha Wave Global-backed Cars24, the used car ecommerce unicorn has laid off around 600 professionals in order to slash costs. 

The layoff happens across the various departments firing around 9 per cent of the workforce. IPO-bound Cars24 joins the list of companies such as Unacademy, Meesho, Netflix and Vedantu which are firing employees to slash costs amidst a slowdown.