Carmax layoffs, on the record
Every job cut, severance charge and restructuring Carmax reported in its annual reports, 2024 to 2026, quoted from the filings.
Job cuts, severance and restructuring
Our summaryCarMax cut about 30% of its CEC workforce in the third quarter of fiscal 2026, expecting annualized savings of about $35 million.
Word for word“We took our first significant step toward these savings during the third quarter of fiscal 2026 with an approximately 30% reduction in our CEC workforce, which we expect will result in annualized savings of approximately $35 million.” 10-K for 2026
Our summaryCarMax reported $49.8 million of restructuring charges in fiscal 2026 that affected compensation and benefits and occupancy costs.
Word for word“Excluding the $49.8 million of restructuring charges, which impacted compensation and benefits and occupancy costs, adjusted SG&A decreased $31.8 million or 1.3%.” 10-K for 2026
Our summaryCarMax completed more restructuring changes in the fourth quarter of fiscal 2026 and expects about $60 million in annualized savings.
Word for word“We completed additional restructuring changes during the fourth quarter of fiscal 2026, which we expect will result in annualized savings of 29 approximately $60 million.” 10-K for 2026
Carmax has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Carmax’s annual reports (10-K for 2026, 10-K for 2025, 10-K for 2024) and the financial data it files with the SEC, as of 2026-04-15. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.