TrueCar Announces Strategic Restructuring
TrueCar, Inc. (TRUE)
Last truecar, inc. earnings: 2/20 04:03 pm
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US:NASDAQ Investor Relations:
ir.true.com/investor-relations
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Source: GlobeNewswire
SANTA MONICA, Calif., May 28, 2020 (GLOBE NEWSWIRE) -- TrueCar, Inc. (NASDAQ: TRUE) announced today a strategic restructuring of its workforce to reinforce its pursuit of a best-in-class car buying experience. In anticipation of the termination of its partnership with USAA Federal Savings Bank later this year, TrueCar initiated a workforce reduction impacting 219 positions, over 30% of the organization. The timing and scope of the reduction was accelerated by the impact of COVID-19. As part of the workforce reduction, the company expects to reduce annual expenses related to headcount, excluding stock-based compensation, by approximately $35 million. Strategic restructuring to support a leaner operating model and reinforce focus on the consumer experience In parallel with the workforce reduction, TrueCar also made changes to better align its organizational structure with its strategic priorities. Notable changes include: Formation of new Consumer Group composed of product, consum
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Earnings
- 2/20/24 - Beat
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Sec Filings
- 4/15/24 - Form 4
- 4/15/24 - Form 4
- 4/12/24 - Form 8-K
- TRUE's page on the SEC website