GREENVILLE, N.C. - Employees of Regional Acceptance Corporation, an auto finance company affiliated with Truist Bank, are facing job losses as the company announced plans to close its facilities in Greenville and Winterville. On Tuesday, the company notified employees of the permanent closures at the locations on East Fire Tower Road in Greenville and Beacon Drive in Winterville.
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As part of its exit from the near-prime auto lending sector, Truist sold $5.5 billion in auto loans. The closures will lead to layoffs of 156 full-time employees at the Winterville site and 97 at the Greenville site, according to WARN notices. Operations at the Greenville facility are set to cease completely by July 31, 2027, while the Winterville location will close by February 28, 2027.
Greenville Mayor P.J. Connelly expressed his sympathy for those affected, stating, “It’s unfortunate. We hate to see anybody lose a job, and losing 253 jobs is a major layoff, especially for our community.” The layoffs are anticipated to begin around November 30. Connelly assured that the city would assist those impacted in finding new employment, noting that local economic development initiatives would continue to seek out businesses to replace lost jobs.
Community members are also voicing concerns; Greenville resident Ricardo Avalos, who recently experienced job loss himself, remarked on the difficulty of job hunting in the current market. “Each day, it’s getting harder to find a job, and it’s not as easy as it used to be,” Avalos said.
The economic landscape in the region is increasingly precarious as these layoffs approach.