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Spinny Consolidates Sub-brands and Lays off 300 Employees Amidst Declining Used Car Sales

  • Tiger Global-backed retail platform, Spinny, lays off over 300 employees amidst reduced demand for used cars.
  • Spinny plans to consolidate its Budget and Luxury offering platforms, Truebil and Spinny Max, under its main brand to optimize its offerings for customers.
  • The laid-off employees were from Truebil and Spinny Max, both subsidiaries of Spinny, and the remaining employees will be integrated under the Spinny brand.
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