Cars24 To Hire 500, Months After Layoffs

Used car marketplace Cars24 said it plans to hire more than 500 employees across verticals in the next three months, nearly restoring its headcount after it fired a similar number last May.

The unicorn said it will be hiring for both tech and non-tech related roles across technology, product, data sciences, engineering, and several other departments.

"The new hires will play a critical role in driving the next phase of growth at Cars24 as the company scales its operations and expands further," it said in a press release.

Last May, the Gurugram-based company laid off about 600 employees. Those were "genuine performance-linked exits that happen every year", Vikram Chopra, founder of Cars24, told BQ Prime in August. At the time, he said Cars24 had more than half a billion dollars in the bank.

The company was "on track to be profitable by 2023", he said. "We have a clear path to building this business profitably. It will take one-and-half year, but we have enough capital till then."

Cars24 had expanded its operations to 24 additional cities and reported over Rs 6,000 crore in revenue from its India business in 2022.