Carvana further cutting staff amid deeper sales slowdown, WSJ says

Carvana, facing a deeper slowdown in sales, is further cutting staff and as it tries to conserve cash to stay current on more than $7B of debt, The Wall Street Journal’s Ben Foldy reported earlier this morning, citing employees and industry analysts. The online used-car dealer is quietly terminating employees, cutting hours and letting open positions go unfilled, current and former employees tell The Wall Street Journal. Internal emails reviewed by The Journal indicate that several operations teams are working fewer than 30 hours a week or four-day workweeks, Foldy added. Reference Link