. On Nov. 18 company CEO Ernie Garcia III told the staff that another 8% of jobs — about 1,500 positions — would be cut across the board. It's the second round of major layoffs announced by the company this year.
In 2020 and into 2021, used vehicle prices skyrocketed in the wake of the Covid-19 pandemic due to new car production problems that were caused by supply chain issues. Now that used car prices have fallen off significantly from those highs, Carvana and its peer group of used car businesses face margin pressures., the Motley Fool investment site said"it's no secret that Carvana is in a liquidity crisis that could force it into bankruptcy. ...
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