ALLY to Exit Mortgage Business, Cut Jobs & Focus on Auto Franchise
As mortgage rates are expected to remain higher for longer, Ally Financial ALLY will be exiting the mortgage origination business. Further, the company is seeking “strategic alternatives” for its credit card business.
Detroit-based Ally to end mortgage originations, cut jobs across company
Ally Financial Inc. will cut jobs, end mortgage originations and consider strategic alternatives for its credit-card business as borrowers have struggled to pay down costly debt.
Ally Financial closes mortgage origination business
Ally Financial announced Wednesday that it would exit the mortgage origination business as part of a broader strategy to pursue higher returns on investments.
Ally Financial To Exit Origination Business
The Detroit, Mich.-based Ally Financial is exiting the mortgage origination business, as first reported by The Charlotte Observer. The holding company and financial services provider offers mortgage lending services through its digital-only banking subsidiary,
Ally Financial to cut hundreds of jobs companywide, Charlotte Observer reports
Ally Financial (ALLY) plans to cut hundreds of jobs companywide, bank spokesman Peter Gilchrist confirmed in a statement to The Charlotte
Ally Financial to Cut Employee Headcount, Exit Mortgage Business
Ally Financial said Wednesday it will enact a layoff of less than 5% of its 11,000-employee workforce, as well as exit the mortgage-origination business, as the company is burdened by borrowers falling behind on debt.
Ally to end mortgage originations, cut jobs across company
Ally Financial Inc. will cut jobs, end mortgage originations and consider strategic alternatives for its credit-card business as borrowers have struggled to pay down costly debt.
Ally to to cut jobs, end mortgage originations - BBG
Ally Financial (NYSE: ALLY) plans to exit its mortgage origination business and reduce its workforce due to increasing credit challenges and the impact of higher interest rates, according to a report from Bloomberg on Wednesday.
Ally Financial to exit the mortgage origination business - report
Ally Financial (NYSE:ALLY) will exit the mortgage origination business and is considering alternatives for its credit card business, according to a media report on Wednesday. The move to leave the mortgage origination business would affect less than 5% of the company's workforce,
Bank with large Charlotte presence implements layoffs
The Detroit-based digital-bank told CBJ the layoffs will impact nearly 5% of its 11,000 employees, including in Charlotte, ...
Ally Financial confirms hundreds of layoffs companywide, including in Charlotte
About 2,400 people work for Ally in Charlotte. The company said it would cut “less than 5%” of its workforce to help “right-size” the company.
Ally lays off hundreds of employees
The bank also announced plans to exit the mortgage origination business this quarter. Ally is exploring strategic alternatives for its credit card business.
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