This move isn't surprising at all as Ally started to make a ton of noise in the home improvement space. It makes sense to boost our stock px and Synchrony is salivating to get their products into the banking vertical. I love how the message since the layoffs was "we care about our employees" when yet again we're witnessing another move that shows they only care about their stakeholders. Can any Lending employees confirm if layoffs will happen once the sale is complete? Has there been any discussions?
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Yes, we were told in September 2024 that they are dissolving Ally Lending in September 2025. We all need to find a new role if we want to stay with Synchrony. But of course, they won't post a role for everyone.
Really nice with how it was announced in the Q4 earnings as just a footnote in an email. Absolutely sc-mmy, just like how the layoffs were announced.