Macquarie expects 100 jobs to go as it winds down its $5 billion car lending book, following Westpac out of the sector.
Macquarie’s banking and financial services division will stop writing car loans to allow it to fully focus on growing market share in mortgages and deposits, resulting in the loss of about 100 jobs.
Macquarie will continue to service existing car loans over the next few years until the back book fully runs off.
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