CarMax slashed 145 white-collar jobs, about 4% of its corporate staff, citing a soft auto market pressured by high prices and rising interest rates. The cuts mark the third round of layoffs within 12 months as the company tries to jump-start sales and restore profitability. The used-car retailer is struggling to revive sales amid challenging market conditions.

CarMax is the nation's largest used-car retailer and is working to stabilize its financial position under Chief Executive leadership.