IRVINE, Calif. – Autobytel, a provider of car buying services to credit unions, said it has cut 75 additional jobs, or 35% of its workforce, as part of cost-cutting efforts.
The job cuts will save the company about $10 million a year.
Chief Executive Jim Riesenbach said the company is taking all the steps necessary to "navigate through this challenging economy." Autobytel hired RBC Capital Markets Corp. to advise it during the company's review.
If the Federal Reserve really wants to control inflation, it first needs to control people's expectations.
Four and a half years after SoFi acquired a bank, it landed 47th on the list of largest U.S. banks by deposits.
The federal banking regulator issued conditional approvals for national trust bank charters for Bastion Platforms, Agora and Catena Labs on the same day.
The Federal Reserve's vice chair outlined the ongoing modernization efforts for the central bank's lending facility of last resort, including coordination with the Federal Home Loan Banks.
As AI agents become more collaborative, creative and fast, banks need to defend themselves.
