Cars24 lays off 200 employees amid strategic reset, continues expansion

Auto-tech platform Cars24 has laid off around 200 employees from various departments, including product and technology, as part of a strategic pullback from certain projects, The Economic Times reported, citing an internal message from co founder and CEO Vikram Chopra.

The layoffs come as the SoftBank-backed company continues to expand into new business areas. Last week, CARS24 announced its acquisition of automotive forum website Team-BHP, signalling a broader diversification of its portfolio.