Lithia Motors, one of the largest automotive retailers in the United States, has announced plans to cut 250 jobs as part of a restructuring effort. The majority of these layoffs will come from the company’s Carstores division, which operates a network of used car dealerships.
The decision to reduce its workforce comes as Lithia looks to streamline its operations and improve efficiency in the face of changing market conditions. The company has cited a number of factors for the layoffs, including a shift in consumer preferences towards online car shopping and increased competition from digital-first retailers.
In a statement, Lithia Motors CEO Bryan DeBoer emphasized the need for the company to adapt to the evolving automotive landscape. “We are constantly evaluating our business and making strategic decisions to ensure we remain competitive and agile in a rapidly changing industry,” DeBoer said.
The layoffs at Carstores will affect employees across various departments, including sales, service, and administrative roles. The company has said it will provide support and resources to affected employees, including severance packages and assistance with finding new job opportunities.
Despite the job cuts, Lithia Motors remains committed to its long-term growth strategy and plans to continue investing in its core business areas. The company operates over 200 dealerships across the country and has a strong presence in both new and used car markets.
As the automotive industry continues to evolve, companies like Lithia Motors will need to adapt and innovate in order to stay competitive. While the layoffs may be a difficult decision for the company, they are a necessary step towards ensuring its long-term success in a rapidly changing market.
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- Source: https://zephyrnet.com/lithia-to-axe-250-jobs-carstores-to-take-the-brunt/