Online used car marketplace heycar is restructuring its business globally making 73 redundancies or 16% of its 450 staff.
The group said it had been affected by the crises of the past few years and it was prepared for “stormy times ahead.
Heycar was launched in Germany in October 2017, followed entry into the UK, Spain and France in 2019, 2020 and 2021 respectively.
In a statement released to Motor Trader, it said: “Like many other companies in our industry, the numerous crises of the last two years have also affected our business.
“However, thanks to our investor structure, which is deeply rooted in the industry, we are also prepared for stormy times and will continue to expand our range of products and services for the trade.
“In order to continue a sustainable development of our company, we are currently undergoing a restructuring process.
“The decision to part with a total of 73 heycar colleagues globally as part of this process was not taken lightly.
“We will support the affected employees as much as possible and have taken a number of measures to accompany them through this process.”
The heycar Group is the umbrella organisation for all heycar companies. The shareholders are Volkswagen Financial Services, Volkswagen, Mercedes-Benz, Allianz, and Renault Group and its
subsidiary Mobilize Financial Services.
