GMAC to cut 930 auto finance jobs, close offices

Newswire

DETROIT, Feb 20 (Reuters) - Finance company GMAC on Wednesday said it would restructure its auto finance unit, cutting about 930 jobs and closing offices to conduct business from five regional offices in North America. The job cuts represent about 15 percent of the 6,275 employees in GMAC's auto finance business, the company said. It said the layoffs and office closures would take effect this year and prompt a charge of between $65 million and $85 million. The charge will be taken over ...

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