: : Carvana cutting more staff as sales continue to decline: WSJ #FinanceUSA #StockMarketNEWS Carvana Co. CVNA is cutting more staff as sales fall and it tries to rein in costs and conserve cash to cover

@stockMarketNEWS 13 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

: Carvana cutting more staff as sales continue to decline: WSJ #FinanceUSA #StockMarketNEWS
Carvana Co. CVNA is cutting more staff as sales fall and it tries to rein in costs and conserve cash to cover more than billion of debt, the Wall Street Journal reported Friday, citing employees and industry analysts. The online used-car seller has been quietly letting staff go, reducing hours and leaving open positions unfilled, the paper reported, citing current and former employees and internal emails. The stock fell 6% premarket and is down 95% in the last 12 months, while the S&P 500 SPX has fallen 14.5%. The company already cut 4,000 jobs last year, equal to almost a fifth of staff as growth slowed after a dramatic rise during the pandemic. The stock enjoyed a strong rally on Wednesday along with another meme stock, Bed Bath & Beyond Inc. BBBY

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