CarMax's Latest Round of Layoffs Will Result in $6M Charge This Quarter
Dow Jones
Sep 29
0903 ET - CarMax earlier this month slashed 145 white-collar jobs, or about 4% of its corporate staff. The cuts are expected to result in roughly $6 million in severance expenses during the current quarter, CFO Enrique Mayor-Mora says on a call with analysts. The recent round of layoffs marked the first of such action under CEO Keith Barr, a former hospitality executive who took over in March with a mandate to reinvigorate the business. But it was CarMax's third round of job cuts in less than a year: the company cut 350 jobs in October 2025, and another 230 in January 2026. CarMax rises 6% premarket after posting higher F2Q profit and revenue.
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