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Lookers is to make cuts to its workforce under new owner Global Auto Holdings following its delisting from the London Stock Exchange.
The company is also seeing the departure of CEO Mark Raban later this month, an exit revealed in a letter to employees.
Raban was the winner of the Outstanding Achievement Award at the 2023 Motor Trader Industry Awards.
A spokesperson for Lookers said: “Unfortunately, now that Lookers is no longer listed on the London Stock Exchange, a certain number of corporate and support roles that relate to its status as a listed company may be affected by this proposed programme.
“In keeping with normal practice, we have notified those employees who are affected via a formal letter, explaining that we have now entered the formal consultation period with employee representatives as a next step.”
The £504m takeover of Lookers by Global Auto Holdings got the go ahead in September.
Global paid 130p per share for the company after it revised the offer upwards from 120p, which had been rejected.