Cox Automotive (KBB, Auto Trader, Mannheim, Others) Cuts 275 Employees

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Atlanta June 19, 2020; Automotive News reported that Cox Automotive, facing a sharp decline in 2020 revenue, eliminated roughly 275 jobs yesterday.

The cuts are the first permanent job reductions stemming from the pandemic, Cox confirmed. More than 60 percent of affected employees had already been furloughed in May, Cox management did not immediately identify divisions and business units where jobs were cut.

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About Cox Automotive:
Cox Automotive is an unit of Cox Enterprises, formed in 2014 to consolidate all of Cox's global automotive businesses, including Kelley Blue Book, Xtime, Autotrader.com and Manheim. As of September 2015, the Cox Automotive business unit divided its brands into five groups, four containing U.S. businesses which include auto auctions and wholesale services, financial services, media, and software, and an international group of its international brands. The auto auctions and wholesale services group consists of DealShield, Go Auto Exchange, Manheim, Manheim Global Trader and Ready Auto Transport. The media group and financial services consists of Autotrader.com, Dealertrack, NextGear Capital, xTime, VIN Solutions, vAuto, Dealer.com, Haystak Digital Marketing, HomeNet Automotive and Kelley Blue Book, products designed to drive customer traffic to dealerships.