Layoffs are coming in Auto. Specific cuts are not yet decided, but tech and Directors are being talked about. Impact is big. Timing is not known.
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I have worked for COAF since 2014 and when they closed down our largest call center I had been saying that they would move loan servicing outside the US to save money. So much for "change banking for good." Rich farebanks shows himself to be just as money obsessed and underhanded as other CEO. Not only is this round of layoffs short sided and cruel, but it's exactly like every other failed business. Let's see how long it takes them to try to overcorrect for this stupid move.
Crazy how this was posted 2 weeks before it happened but yet management had “no idea” and were “blindsided” by this.
It’s beginning. My inbound originations phone team got cut today
This happened when I was there during the last recession. It wasn't a fun time. Read your severance package carefully....management will be looking for cheapest option to part ways and not have to report #s.
Not surprised people are falling behind in their auto loans it's hard to make money.