Santa Monica, California-based Edmunds.com, the online car information and shopping platform, has announced the layoffs of 130 employees, mainly at its Santa Monica offices, with the remainder at the company offices in Detroit, Michigan. According to a statement filed with the State of California, the reduction in force is conditioned by a “review of our business operations.” According to the statement, the permanent layoffs include four account executives, five implementation specialists, eleven relationship managers, six sales executives, four software engineers, five regional directors, two operations analysts, three dealer success specialists and a variety of other support positions.
Some employees believe that the company is on the decline and being pressured by the number of dealer-sponsored platforms and the integration of purchasing platforms with financial and service organizations.
Richmond, Virginia-based CarMax, a large-scale retail used-car seller, announced that it is acquiring a minority stake in the company for $50 million, possibly to serve as a purchasing guide to immediately available vehicles at the company’s retail locations and to further automate its used car buying operations.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?