Cox Automotive confirms workforce reduction

CARY, N.C. - 

Auto Remarketing confirmed multiple online reports from Atlanta-area media outlets that Cox Automotive is reducing its global workforce by nearly 1,000 employees, but the company said it does not “anticipate any additional large-scale reductions.”

The reports first surfaced late on Friday afternoon, and Cox Automotive corporate spokesperson Lou Laste replied to a Monday morning inquiry that the company would cut its staff by approximately 950 team members, which is about 3 percent of Cox Automotive’s total workforce. 

“These changes, while difficult, will help us fuel more innovation, drive more growth and deliver the elegant, connected experience we’ve promised to our clients and the industry,” Laste said in the message. “We do not take these decisions about job impacts lightly and will remain true to our values, treating everyone with dignity, fairness and respect throughout this process. 

“We are committed to moving quickly to build a stronger and more agile organization that gives us the best chance to succeed well into the future,” he continued.

As was the case in reports published by the Atlanta Journal Constitution — part of Cox Media — as well as the Atlanta Business Chronicle, Cox Automotive did not specify which segments of its businesses will endure reductions. Cox Automotive’s global presence includes:

—Alliance Inspection Management (AIM)
—AutoSt
—Autotrader
—BitAuto
—Cars Guide
—CentralDispatch
—Dealer-Auction.com
—Dealer.com
—Dealertrack
—DealShield
—HomeNet Automotive
—Incadea
—Jingzhengu
—Kelley Blue Book
—Mahindra First Choice
—Manheim
—Modix
—Motors.co.uk
—NextGear Capital
—Ready Logistics
—RMS Automotive
—vAuto
—VinSolutions
—xtime

“We have been very thoughtful and strategic in identifying the roles across all departments that need to be reduced along while making sure we have the capabilities to best serve our clients for the future,” Laste said.

“At this time, we do not anticipate any additional large-scale reductions. That said, our business and the market continue to evolve, and therefore we are never able to guarantee that a role will not change or be eliminated in the future,” he went on to say.

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