TrueCar Layoffs
June 2023
TrueCar announced a layoff affecting 102 employees (24% of its workforce) in June 2023. The company operates in the Transportation sector.
102
24%
Jun 14, 2023
About
In June 2023, automotive pricing platform TrueCar announced a major restructuring, laying off 102 employees, which represented 24% of its workforce. The move, aimed at aligning costs with revenue to create a nimbler company, coincided with leadership changes, including the appointment of Jantoon Reigersman as the new CEO. The company, which operates in the online automotive marketplace, reported a dip in Q1 revenue and a growing net loss, prompting this strategic shift to achieve long-term financial stability and anticipated growth later in the year.
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