Cox Automotive Furloughs More Than 12K Workers
Atlanta-based Cox Automotive is planning to furlough more than 12,500 full-time and part-time employees.
The move comes after the company has been hit hard by the economic recession caused by the COVID-19 pandemic.
“A furlough is different than a layoff and our hope is that we will be able to have as many of these people back as soon as conditions allow,” Cox Automotive President and Chief Executive Sandy Schwartz said in a statement to employees obtained by the Atlanta-Journal Constitution.
The furloughs will last 16 weeks and will begin May 15.
In all, 4,600 full-time workers will be furloughed because their responsibilites are unable to be done from home, according to Reporter Newspapers.
The company, which has over 30,000 employees, owns several national brands, including Autotrader, Dealer.com, Kelley Blue Book.