National bank with a longtime foothold in Charlotte to lay off 2% of workers
Ally Financial is cutting jobs again for the second time this year.
The digital-only Detroit-based bank’s layoffs will affect about 2% of its workforce, spokesman Peter Gilchrist told The Charlotte Observer Monday evening..
Ally has about 10,000 employees nationwide, with around 2,200 workers in Charlotte. Gilchrist declined to say to what extent Charlotte employees could be impacted.
Most of the impacted positions were at the manager-level or above, Gilchrist said. “To better align our organizational structure to our more focused, simplified business model, we made the difficult decision to selectively reduce our workforce in some areas,” he said.
Those impacted will receive a full salary and benefits for the rest of year, along with separation packages that include career counseling.
In January, Ally Financial said it would cut hundreds of jobs companywide, including Charlotte, affecting less than 5% of its workforce. At that time, Ally had 11,000 employees, including about 2,400 in Charlotte.
Ally joined the Charlotte market in 2009. It provides services such as auto finance, banking, home loans and investing. The company’s corporate center is inside a 26-story office building at 601 S. Tryon St.
The Charlotte Business Journal first reported the layoffs.
Previous Ally Financial layoffs
Ally was on a hiring kick in 2021, but two years later it began restructuring the company and subsequently laying off employees.
Citing economic challenges, in October 2023, Ally cut 5% of jobs companywide to save the company $80 million. The same year, CEO Jeff Brown resigned to become president of Charlotte-based Hendrick Automotive Group.
This year in January, Gilchrist said the bank was exiting the mortgage origination business and looking for alternatives for its credit card business.
And last month, Ally reported its third-quarter earnings revenue was $2.2 billion, up 3% compared to the same time last year. Retail deposits of $141.8 billion were up $400 million year-over-year for the quarter ending Sept. 30.
This story was originally published November 3, 2025 at 5:47 PM.
