Report: Ally Cutting Jobs and Ending Mortgage Originations

Ally Financial is reportedly cutting staff, ending mortgage originations and rethinking its credit card business.The company will lay off less than 5% of its workforce, Bloomberg News reported Wednesday (Jan. 8), citing a statement from an Ally spokesperson.“As we continue to right-size our company, we made the difficult decision to selectively reduce our workforce in some areas, while continuing to hire in our other areas of our business,” spokesperson Peter Gilchrist said in the email. Gilchrist said the ...