Thursday, June 15, 2023

TrueCar Axes 102 Employees, Gets New CEO

Los Angeles-based online car buying site TrueCar has laid off 102 of its employees, and named a new CEO, the company said on Wednesday. The cuts represent about 24 percent of the company's staff. According to the company, it is replacing President and CEO Michael Darrow with Jantoon Reigersman, who previously was serving as Chief Operating Officer and Chief Financial Officer at TrueCar. TrueCar said the restructuring "better aligns our cost structure with our revenue base".