AutoNation is furloughing 7,000 employees, reducing executive pay and postponing more than $50 million of capital spending.
April 6, 2020—AutoNation is furloughing 7,000 employees, reducing executive pay and postponing more than $50 million of capital spending in light of COVID-19 virus impacts, according to a report by CNBC.
Year-over-year sales declined about 50 percent last month, according to the report. The company employs 26,000 people at more than 300 locations in 18 states.
Penske Automotive Group and Group 1 Automotive have also announced similar staffing and pay reductions.
