Cars24 lays off 200 employees, to tighten hiring plans

Used car sales platform Cars24 has laid off around 200 employees across various functions including product and technology, as the company pulled back on certain projects, cofounder and CEO Vikram Chopra said in an internal note to staff.The layoffs come in the backdrop of the SoftBank-backed firm expanding into multiple new business segments. Last week, it announced the acquisition of automotive forum website Team-BHP.

“Over the past few weeks, we have had to make the difficult decision to part ways with around 200 of our teammates across various…