CarMax eliminated 145 corporate positions, roughly 4% of its corporate workforce, in the first layoff action under Chief Executive Officer Keith Barr. The cuts affected offices in the Richmond area, Dallas and Atlanta, as well as Edmunds in California, and included about 60 technology employees. The used-car retailer has eliminated more than 1,000 jobs across several rounds since 2024 as elevated vehicle prices and higher interest rates weigh on demand. Earlier reductions included 350 jobs in October 2025 and 230 positions in January 2026. Barr's four-pillar strategy focuses on competitive pricing, stronger digital capabilities, expanding in-house financing and reducing reconditioning costs. CarMax remains on track for $200 million in exit-rate selling, general and administrative expense savings by the end of fiscal 2027. First-quarter revenue increased 6.2% to $8.01 billion, while net earnings fell 11.8% to $185.6 million. The company's stock was trading at $57.30, up 45% for the year.