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Report: Ally Cutting Jobs and Ending Mortgage Originations
- Ally Financial is cutting staff, ending mortgage originations, and rethinking its credit card business.
- The company will lay off less than 5% of its workforce, citing the need to right-size the company.
- Mortgage originations are scheduled to end during this quarter.
- Ally has reported worsening credit challenges, particularly in its auto-lending unit.
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