New Delhi: ( IANS): Pre-owned e-commerce platform CARS24 said that around 600 employees have been let go based on their poor performance and not owing to any “cost cuts”.
Calling it “business as usual”, the company, which has nearly 9,000-strong workforce, and is in the process of hiring more globally, said its business is actually growing in India, the Middle East, Australia, and Southeast Asia.
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“This is business as usual as these are performance-linked exits that happen every year,” the company said in a statement shared with IANS.
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.