Amid the process of more hiring CARS24 asks ‘poor performers’ to leave
CARS24, the pre-owned e-commerce platform said that around 600 employees have been let go based on their poor performance and not owing to any “cost cuts“.
While the company said that its business is actually growing in India, the Middle East, Australia, and Southeast Asia, with a workforce of nearly 9,000 employees, is in the process of hiring more globally.
The company said, “This is business as usual as these are performance-linked exits that happen every year.”
“CARS24 has aggressive plans for 2022. We are witnessing greater acceptance amongst customers across the globe for our platform when purchasing their next car,” Vikram Chopra, Co-founder & CEO, of CARS24 had said.
“As we continue to build the best infrastructure for the future with an end-to-end digital customer experience, we are confident that this will delight our customers with our high-touch industry experience,” Chopra added.
In December last year, CARS24 closed a $400 million round of funding, including a $300 million Series G equity round alongside $100 million debt from diversified financial institutions.
The platform was valued at $3.3 billion, about double the valuation of its previous round in September 2021.
The company recently announced the launch of seven ‘Mega Refurbishment Labs‘ (MRLs) in India — an industry first, and one MRL in the UAE which is among Dubai’s largest ever commercial leasing deals.
[With Inputs from IANS]
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With 15 years life for petrol cars & 10 years for Diesel cars, this resale / refurbished cars industry is bound to fail. Be ready to hear that that company is winded up operations, bad bank loans will galore, investors will lose money….etc., Keep waiting & keep watching these predictions
Car buyers have to sell off after 5 years or 7.5 years and second hand buyers have to scrap it in 5 years (diesel) or 7.5 years (petrol), when average Indian driving within city roads hardly drives 1,00,000 kms in that 5 / 7.5 years. when the life of any 1000+cc vehicle is 3-4 lac kms.
Zomato / Tomato, Swiggy, Ola, Uber, Cars24….etc., all are going to fail for they enrich themselves & make workers work for them than for workers own survival. That is why Ola / Uber are short of vehicles. Zomato / Tomato / Swiggy are short of food joints. Investment in this means losing that last Rs. 1 that you saved.
People are also equally selfish, want entire world at to be delivered at home i.e. while he sits on that potato couch.
The people are sick minded & society is equally sick, with no leadership on any front.