Cars.com Inc. Form 8-K Filing

Cars.com Inc. announced a cost reduction program including an 11% workforce reduction, impacting management and executive roles. The company expects to incur approximately $8.5-$9 million in charges, primarily for employee severance and benefits, largely in Q1 2026 with cash payments expected in Q2. Additionally, the company reaffirmed its Q1 2026 and FY2026 guidance, previously provided on February 26, 2026. They also announced an increase in their share repurchase target from over $60 million to $90 million for the full year. New AI-powered products, including a dealer app and advanced shopper alerts, have been released to enhance customer offerings and dealer efficiencies.