Truist Will Close Tempe Facility and Lay Off 120
Truist Financial Corp. will shutter its Regional Acceptance Corp. site in Tempe by February 2027.
Updated on Sept. 22, 2026 in Jobs — General
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Truist Financial Corp. will close its Regional Acceptance Corp. office in Tempe and lay off 120 employees. The company filed a notice with the state indicating that the staff reductions will occur in phases beginning November 30, 2026.
Why it matters
The closure of the Tempe facility marks the end of operations for the near-prime auto loan subsidiary at the site. The decision, detailed in a recent filing, will result in a total workforce reduction of 120 positions by the spring of 2027.
The company reported 120 impacted positions at the facility located at 1700 North Desert Drive. These layoffs represent the total workforce for the Regional Acceptance Corp. subsidiary at this location.
The players
Truist Financial Corp.
This is a publicly traded financial services company headquartered in Charlotte, North Carolina.
Arizona Department of Economic Security
This state agency oversees labor and economic filings for businesses operating within Arizona.
Regional Acceptance Corp.
This entity is a near-prime auto loan subsidiary owned and operated by Truist Financial Corp.
The details
Truist Financial Corp. initiated the closure process by filing a Worker Adjustment and Retraining Notification (WARN) Act notice with the Arizona Department of Economic Security on September 15, 2026. The facility will cease all operations following the final phase of personnel departures in February.
Timeline
September 15, 2026: Truist issued a WARN notice to state officials.
November 30, 2026: Layoffs begin for facility employees.
February 28, 2027: Facility closes permanently and layoffs complete.
Market Landscape
The closure follows a regulatory notification pattern established by the Worker Adjustment and Retraining Notification (WARN) Act, which mandates advance warning for mass staff reductions. This shift reflects broader consolidation efforts within financial services subsidiaries.
The closure will result in the loss of 120 jobs in Tempe by February 2027. Customers of the Regional Acceptance Corp. subsidiary may face changes to local service availability as the facility at 1700 North Desert Drive winds down operations.
The takeaway
Workers impacted by the phased layoff schedule should contact state resources for assistance with transitioning to new roles. Companies often provide severance details and placement support following the filing of a formal WARN notice.
Further reading
For more on the local labor climate, see our coverage of Jobs — General.
Source note: This article includes information reported by abc15 Arizona.
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