{
  "id": 9034230,
  "title": "CarMax Cuts 145 Corporate Jobs in Third Layoff Round in 11 Months",
  "url": "https://urgent.news/2026/09/21/carmax-cuts-145-corporate-jobs-in-third-layoff-round-in-11-months",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-21T23:20:58.000Z",
  "source": {
    "name": "PYMNTS",
    "slug": "pymnts",
    "url": "https://www.pymnts.com/personnel/2026/carmax-cuts-145-corporate-jobs-in-third-layoff-round-in-11-months/"
  },
  "original_language": "en",
  "account": "CarMax, the used car retailer, recently announced the layoff of approximately 145 employees, representing about 4% of its corporate staff. This move was made in order to streamline operations and enhance alignment across teams. These cuts mark CarMax's third round of layoffs in less than a year, following previous job reductions in October 2025 and January.\n\nKeith Barr, CarMax's CEO, assumed the role in March with the aim of revitalizing the company amid challenges such as high prices, rising interest rates, and elevated gas prices. These pressures are impacting the used car business. During his appointment announcement in February, Barr highlighted his track record of driving growth and operational excellence across large, consumer-oriented businesses, including a hospitality company with over 6,000 properties in more than 100 countries.\n\nBarr, who has focused on improving CarMax's digital car shopping experience, believes the current process adds friction to the customer experience, affecting conversion rates and limiting the company's ability to leverage its scale and store network. Despite this, CarMax reported a 6.2% increase in net revenues to $8 billion in their most recent quarter. The company is scheduled to disclose its latest financial results during an earnings call on September 29.\n\nIn comparison, automotive eCommerce firm Carvana recently reported record retail units sold, a 38% increase year over year, and robust financial performance in Q2.",
  "summary": "Used car retailer CarMax laid off about 4% of its corporate staff, or 145 employees, as part of “running leaner,” the company said in a Monday (Sept. 21) report by Bloomberg. “These changes will help us move faster and create better alignment across teams,” a CarMax spokesperson said in the report. These are CarMax’s first layoffs under CEO Keith Barr, who […] The post CarMax Cuts 145 Corporate…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}