Assuming we have another round of layoffs this year, which areas/products do you think will be hit the hardest?
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I see more risk and compliance cuts coming, considering the new Federal Government.
Why deposits and invest? 60% of their business is auto. They own customer financing, dealer financing, collections, repos, and an auto auction site. You hear about deposits and invest because they have to advertise to get those customers but honestly Ally is more like an Auto Financing Company that happens to have a bank.
Also side note they only really got into banking in order to qualify for a bailout in 2009.
What makes you think deposits and invest? While I don't think you can have one without the other nowadays, aren't those like .... Super essential to the branding?
I also have a feeling that bank will be sold off (deposit & invest) to focus on auto.
I think the investment arm and the bank will be sold soon. The entire company will be sold to a captive lender or auto manufacturer!!
I wonder if Invest is next to be sold after Lending, CC and Mortgage…
If tech is hit harder. It will not be good
Not qualified to answer but I have friends across the company and from what I have heard, Marketing and risk are still light so I think pulling away from them anymore would be very hard.
My guess would be tech. There are some internal tool teams that don’t really do much. Backend teams also are pretty staffed up and we are trying to kick more back end to contractors.
I would guess all to some extent.