- Carvana is laying off about 1,500 people, or 8% of its workforce, following a free fall in the company's stock this year and concerns around its long-term trajectory.Carvana is laying off about 1,500 people, or 8% of its workforce, Friday following a free fall in the company's stock this year, a weakening used vehicle market and concerns around the company's long-term trajectory, according to an internal message first obtained by CNBC's Scott Wapner.The world around us has continued to get tougher and to do what is best for the business, we have to make some painful choices to adapt," Garcia wrote in the Friday email to employees.For Carvana, it also follows rapid growth but some missteps during the coronavirus pandemic to better capitalize on an unprecedently strong used vehicle market.That led Carvana to purchase ADESA and a record number of vehicles amid sky-high prices as demand slowed amid rising interest rates and recessionary fears."