Truist Financial Corporation is selling its near-prime auto loan portfolio for over $5 billion. This strategic move has resulted in the closure of its auto loan subsidiary's office in Arlington, Texas. More than 200 full-time employees at this location will be laid off as a consequence. The company is providing support to affected employees, including severance and job search assistance. This decision aligns with the new CEO's strategy to streamline operations and focus on core strengths.
Arlington, Texas
https://www.dallasnews.com/business/jobs/article/truist-auto-loan-exit-triggers-205-arlington-22434850.php