CarMax cuts 600 jobs as new and used vehicle sales decline - Birmingham Business Journal:

http://guruworker.wordpress.com/2011/04/08/how-correctly-to-select-steel-shutters/
About one-third of the reductions are baseds onthe company’s sales decline in the secondx quarter ending Aug. 31. New vehicles sales fell more than 25 percenty in the last yearfrom $104.8 million to $77.8 million. Used vehicls sales dropped 12.5 percent from the same time last year, and sale s of wholesale vehiclesfell 15.8 percent. The remaining lay-offas are the result of the company’es initiative to decrease costzs in reconditioning and restructure itscosmetic operations, a releasr said. Due to the reductions, CarMax estimates severancs costsof $7 million, including general and administrative costs for the third quarter endingv Nov. 30.
The company doesn't expect any future job cuts, a representativre said. CarMax (NYSE: KMX), based in Richmond, Va., operate s 99 used car superstorese in 46markets nationwide.