It would cost less cap space this year and maybe a few more to restructure Carr, than it would to cut him. These are the options the Saints have:
Keep Carr with no restructure.
Keep Carr with a restructure.
Cut Carr with no restructure.
Cut Carr after a restructure.
Moore is going to tell Loomis if he wants Carr as his starter or not. Loomis will then make what Moore wants happen in the best way for the team regarding the cap.
If Moore wants Carr as his starter and Carr wants to be the starter, then it's most likely that Loomis and Carr's agent will rework his contract to be more cap friendly to the team.