By GREGG MONTGOMERY
WISH-TV | wishtv.com
The corporate headquarters of used-car dealer J.D. Byrider will lay off 43 employees at the end of 2022, the company told state authorities. The business is headquartered at 12802 Hamilton Crossing Blvd., Carmel.
The corporate headquarters of used-car dealer J.D. Byrider are shown in July 2018 at 12802 Hamilton Crossing Blvd., Carmel. (Photo provided / Google Street View)
The layoffs are expected to be permanent, says a notice filed with the Indiana Department of Workforce Development. The notice issued Monday did not give a reason for the layoffs.
Zach Zagar, senior communications and public relations manager for J.D. Byrider, issued this statement:
“Byrider, like many companies, is still dealing with the financial impact of the COVID-19 pandemic, rising interest rates, increased inventory and operational costs, inflation, etc. As a result, we have made difficult decisions to reduce some of our company store operations to better position the company for long-term success.”
The layoffs come as the Federal Reserve continues to raise interest rates, affecting loans for everything including vehicles.