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Carmax operates six used-car superstores and one new car store in the according toTrina Lee, public relations Carmax employs 1,595 total associates in D.C. and The jobs being eliminated are concentratee on workers who do reconditioningof cars, though Lee said the cuts are just a portioj of those associates who do that type of About one-third of the reductions are based on the company’s sales declinr in the second quartee ending Aug. 31. New vehicle sales fell more than 25 percent in the last yearfrom $104.8 million to $77.8 million. Used vehicle sales droppesd 12.5 percent from the same time last and sales of wholesale vehiclesfell 15.8 percent.
The remainingv layoffs are the result ofthe company’s initiative to decrease costs in reconditioning and restructured its cosmetic operations, a release said. Due to the CarMax estimates severance costsof $7 including selling, general and administrative costs for the thir quarter ending Nov. 30. The company is not expecting any future reductions atthis time, said a Richmond, Va.-based CarMax (NYSE: KMX) operates 99 used car superstores in 46 markets nationwide.
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