Charlotte, North Carolina-based Truist Financial Corporation, an American bank holding company, has announced it will close the Tempe, Arizona facility operated by its Regional Acceptance Corp. subsidiary, an auto finance company that focuses on subprime to near-prime indirect lending, pending an agreement to sell off the loan portfolio of its Regional Acceptance Corp. subsidiary.
The closure will impact 120 employees with phased layoffs staged between November 30, 2026, and February 28, 2027.
Another 205 employees will be impacted in Arlington, Texas; 56 employees in Winterville, North Carolina; and 97 employees in Greenville, North Carolina.
A spokesperson noted, "The company is providing affected employees with severance benefits, job search assistance, and consideration for other roles within Truist."
Change is constant, and it's coming. Tomorrow will always come, no matter how much you try to ignore it. Life offers no guarantees, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you wondering, "Am I Next?"