TrueCar to Cut 30% of Workforce

Dow Jones

02/25

By Nicholas G. Miller

TrueCar will cut 30% of its workforce in an attempt to restore profitability, just weeks after its founder Scott Painter completed a deal to take the company private.

In January, Painter completed a deal with an investor syndicate that included credit union PenFed, insurance company Zurich North America and retailer AutoNation to buy TrueCar for $227 million.

The company said that the decision to cut jobs came after an operational review following the acquisition.

"Following that review, TrueCar is right-sizing the business to prioritize quality over quantity, profitability over growth at all costs, and execution over expansion," the company said. "These changes are necessary steps to build a sustainable organization and complete the turnaround of a historically unprofitable company."

TrueCar said it is aiming to generate one million annual vehicle sales on its platform and more than $1 billion in annual revenue within a few years.

Write to Nicholas G. Miller at nicholas.miller@wsj.com

(END) Dow Jones Newswires

February 24, 2026 12:36 ET (17:36 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Miller at nicholas.miller@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 24, 2026 12:36 ET (17:36 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TRUE","symbol_name":"TrueCar, Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2614749794","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2614749794","pubTimestamp":1771954560,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"TrueCar will cut 30% of its workforce in an attempt to restore profitability, just weeks after its founder Scott Painter completed a deal to take the company private.In January, Painter completed a deal with an investor syndicate that included credit union PenFed, insurance company Zurich North America and retailer AutoNation to buy TrueCar for $227 million.The company said that the decision to cut jobs came after an operational review following the acquisition.\"Following that review, TrueCar is right-sizing the business to prioritize quality over quantity, profitability over growth at all costs, and execution over expansion,\" the company said. \"These changes are necessary steps to build a sustainable organization and complete the turnaround of a historically unprofitable company.\". 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Miller \n\n\n \n\n\n  TrueCar will cut 30% of its workforce in an attempt to restore profitability, just weeks after its founder Scott Painter completed a deal to take the company private. \n\n\n  In January, Painter completed a deal with an investor syndicate that included credit union PenFed, insurance company Zurich North America and retailer AutoNation to buy TrueCar for $227 million. \n\n\n  The company said that the decision to cut jobs came after an operational review following the acquisition. \n\n\n  \"Following that review, TrueCar is right-sizing the business to prioritize quality over quantity, profitability over growth at all costs, and execution over expansion,\" the company said. \"These changes are necessary steps to build a sustainable organization and complete the turnaround of a historically unprofitable company.\" \n\n\n  TrueCar said it is aiming to generate one million annual vehicle sales on its platform and more than $1 billion in annual revenue within a few years. \n\n\n \n\n\n  Write to Nicholas G. 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