CarMax Inc. said Wednesday it is laying off more than 600 employees, or about 4 percent of its total work force, as the auto retailer tries to cut costs due to a decline in car and truck sales. The Richmond, Va.-based company said the reductions are in its service operations departments at a majority of its production superstores, where it reconditions vehicles. The production superstores make up 60 of the company's 99 retail locations. "Since Memorial Day, we have taken significant steps forward in aligning our costs with current sales levels," said Chief Executive Tom Folliard said in a news release. "Since that time, we have achieved our store staffing objectives in most departments, but it was necessary to make further reductions in service operations in order to reach these staffing goals." "This was a difficult but necessary decision for us to make." The reductions were part of the company's long-term initiative to decrease costs in the reconditioning area wile maintaining vehicle quality, Folliard said. ...
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