Shares of TrueCar Inc. rallied more than 8% in the aftermarket Wednesday after the car-pricing platform announced a restructuring, which includes laying off.
TrueCar, a platform where people can research new and used car prices and find local dealer savings, is laying off 24% of staff due to a restructure, the company said Wednesday. Reigersman previously served as TrueCar's chief operating officer and chief financial officer. TrueCar's stock jumped nearly 13% in after-hours trading on the news.
TrueCar lays off 102 employees, taps new CEO amid restructure biztoc.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from biztoc.com Daily Mail and Mail on Sunday newspapers.
TrueCar said on Wednesday it was laying off 24 per cent of its workforce as part of restructuring that would result in $20 million of annualized expense reduction for the automotive digital marketplace.The cuts, which impact 102 positions, come alongside the elevation of Chief Operating Officer Jantoon Re