CarMax has eliminated 145 corporate positions, representing approximately 4% of its white-collar workforce, as the used-car retailer confronts ongoing challenges in the auto market marked by elevated prices and rising interest rates. The latest round of layoffs is part of the company’s broader effort to streamline operations and enhance competitiveness under the leadership of Chief Executive Keith Barr.

Barr, who joined CarMax in March with a mandate to revitalize the business, has overseen the company’s third set of job reductions in less than a year. Prior to Friday’s cuts, CarMax trimmed 350 jobs in October 2025 and reduced its workforce by another 230 in January 2026, according to a company spokesperson.

The reductions impacted employees at CarMax’s headquarters near Richmond, Virginia, as well as its offices in Dallas, Texas, and Atlanta, Georgia. In addition, staffing changes were made at Edmunds, the automotive research firm owned by CarMax.

In a statement, the company indicated that the workforce adjustments are intended to enable faster decision-making and improve alignment across various teams. By operating with a leaner corporate structure, CarMax aims to strengthen its ability to deliver value to customers and respond more nimbly within the competitive used-car market.

CarMax operates more than 250 used-car dealerships across most major U.S. markets, maintaining its status as the nation’s largest used-vehicle retailer. Despite the ongoing sector headwinds, CarMax’s shares have risen by approximately 50% so far this year, reflecting investor confidence in the company’s strategic direction.