Car financier closes contact centre

Australian car financier General Motors Acceptance Corporation (GMAC) says it will do all it can to help contact centre who will be laid off at its Newcastle centre.

Some 80 of GMAC’s agents will lose their jobs on New Years Eve after the company, Australia’s oldest car finance company, said high petrol prices and the global credit crunch forced it to wind up its Australian and New Zealand operations. A total of 185 employees have been told their work will end on December the 31st.

GMAC says it has suffered more than $3 billion dollars in losses so far this year, with fewer people buying cars because of higher petrol prices and adverse economic conditions. A spokeswoman said GMAC will work with affected employees to try and help them get other jobs.

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