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Cars24, a leading e-commerce platform for pre-owned vehicles, has laid off nearly 200 employees across various departments as part of a strategic restructuring exercise. The company clarified that the decision was not driven by cost-cutting but aimed at aligning its team and structure with long-term goals. In a blog post titled “A Tough Moment and the Road Ahead,” Cars24 CEO Vikram Chopra described the layoffs as a “specific, intentional reset” rather than the beginning of a broader reduction plan. Chopra explained that some projects and roles introduced prematurely did not meet expectations, while others failed to deliver the desired outcomes. He emphasised the importance of being more strategic and deliberate in team-building and investments moving forward.
Cars24 is offering comprehensive support to affected employees, including severance packages, career assistance, mentorship, and access to job openings within its network. The company is also providing resources for emotional wellness to help employees navigate this transition.
The layoffs come amid Cars24’s efforts to streamline operations following a ₹498 crore net loss in FY24, despite a 25% increase in revenue to ₹6,917 crore.
What Cars24 CEO Vikram Chopra said about job cuts
A tough moment and the road ahead
Autonauts,
This is a hard message to write.
Over the past few weeks, we have had to make the difficult decision to part ways with around 200 of our teammates across various functions. Every person impacted gave this company their time, energy, and belief. That matters deeply, and we are genuinely grateful.
This is not about how hard someone worked. This is about the bets we placed and where we got it wrong.
More than performance, this is about structure.
We’ve always believed in moving fast. We’ve always pushed to build big. But the hard truth is: speed without enough clarity is expensive. And when the math doesn’t add up, it is on us to reset.
Over the last few months, we realised that some projects did not deliver what we expected. Some roles were added too early. A few hypotheses simply didn’t hold when tested. And in some cases, we couldn’t offer the kind of growth or learning that people truly deserve.
It is easy to blame the market or external factors. But the responsibility is ours. When the plan doesn’t work, you don’t blame the players, you take responsibility, and change the plan.
Yes, we made mistakes.
I wish we hadn’t, but when you’re building something hard, failures are part of the journey. The most challenging part is when those failures affect our teammates. That’s not easy to accept.
But I truly believe this: CARS24 and our Autonauts get stronger with every experience. Tough times don’t last. Tough people do.
So we are course-correcting now. Fewer things, done better. That’s the shift. It may sound obvious, but when you’re in motion constantly, it’s easy to lose balance.
The exercise is now behind us.
From here, we focus entirely on rebuilding stronger, with clarity and care.
You are not alone. We are here to help you land on your feet, and to walk with you through this transition.
To those impacted: We’re here for you, offering severance support, resume and LinkedIn assistance, mentorship, emotional wellness resources, and access to open roles within our network. Your managers and people team have already reached out to you. We are here for you, not just in words, but in action. Our first priority is to ensure the smoothest possible transition for you and your families. If you are facing financial hardship, whether due to medical issues, family emergencies, or any other reason, please know you are not alone. That’s why we have created a Compassion Fund: a way to stand by those who need extra support right now. We will look at every case with care, dignity, and urgency, and do our very best to provide help where it is needed most. This is our commitment to be there for our Autonauts in the moments that matter most. Even if you don’t need financial help, please know: we are still here for you in every way we can be. You are, and will always be, part of the Autonaut family.
To those still here: I know this shakes confidence. Please don’t hold back. Speak your mind. Share what’s heavy. Let’s walk through this together. I’ll do my best to answer every question.
Wherever people go from here, I hope one thing stays true: That we each get to do work that pushes us, grows us, and matters.
Today, more than ever, our values are not abstract words, they are practices.
Let’s keep building that kind of company together.
– Vikram
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