TrueCar said in June that it would cut 102 positions, and the effort would incur $7 million in restructuring charges, excluding stock-based compensation, in the second and third quarters. Those expenses include one-time employee benefits and severance payments.
It will take some time before TrueCar, of Santa Monica, Calif., realizes a promised $20 million in savings from the job cuts, CFO Teresa Luong said during the investor call.
Luong said the company received some financial benefit from the reductions during