Truist bank cutting 253 jobs in eastern North Carolina
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Truist Financial Corp. is laying off 253 workers in eastern North Carolina as part of its move to sell off a $5.5 billion auto loan portfolio. The job cuts will impact 97 workers in Greenville and 156 workers in Winterville, according to layoff notices filed with the North Carolina Department of Commerce. The local layoffs are scheduled for February 2027 in Winterville and July 2027 in Greenville, according to the layoff notices. "As part of Truist's previously announced agreement to sell substantially all assets of Regional Acceptance Corporation (RAC), teammates at the RAC locations at 266 Beacon Drive in Winterville and 1424 E. Fire Tower Road in Greenville are affected," said Brian Davis, a spokesman for Charlotte-based Truist. "We're committed to supporting them through this transition, including consideration for other roles at Truist, severance benefits and job search assistance," Davis said. Truist announced Sept. 15 in its quarterly earnings report that it is selling off $5.5 billion in auto loans handled by RAC. "We are under contract to sell the $5.5 billion in near-prime auto loans and essentially exit that business entirely," said Truist CFO Mike Maguire during the bank's quarterly conference call on Sept. 15. The auto loan selloff is scheduled to close later this year, according to a Truist filing with the U.S. Securities & Exchange Commission. The bank has not...
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