In the wake of a 78% drop in profits, Carmax will be axing 600 employees in order to align costs “with current sales levels.” The company has said that layoffs will be in its service departments — big surprise that they’d cut service rather than sales.

Chief executive Tom Folliard had this to say:

“This was a difficult but necessary decision for us to make.”

Know who its more difficult for, Tom? The 600 being laid off from a profitable company.

Fine print: CNN