Shares of TrueCar Inc. rallied more than 8% in the aftermarket Wednesday after the car-pricing platform announced a restructuring, which includes laying off...
Shares of TrueCar Inc.
rallied more than 8% in the aftermarket Wednesday after the car-pricing platform announced a restructuring, which includes laying off 24% of its workforce, and a new chief executive. TrueCar said the restructuring is expected to “streamline” its operations and cut expenses by more than $20 million. The company appointed Chief Operating Officer Jantoon Reigersman its new CEO, replacing Michael Darrow, without providing more details. The layoffs will impact about 102 positions, TrueCar said.
rallied more than 8% in the aftermarket Wednesday after the car-pricing platform announced a restructuring, which includes laying off 24% of its workforce, and a new chief executive. TrueCar said the restructuring is expected to “streamline” its operations and cut expenses by more than $20 million. The company appointed Chief Operating Officer Jantoon Reigersman its new CEO, replacing Michael Darrow, without providing more details. The layoffs will impact about 102 positions, TrueCar said.
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