GMAC Cutting 554 Jobs

GMAC Inc. will close three offices and cut 554 jobs. Officials for the auto and home lender, which is controlled by the U.S. government, said the cuts “are part of getting our structural costs in line with business activities.”

Residential Capital LLC will cut 313 jobs at its offices in Costa Mesa, Calif. and Charlotte, N.C. The Charlotte office will be shut down, while about 30 people will be retained in Costa Mesa. Also, the Semperian auto-loan servicing offices in Charlotte and Knoxville, Tenn. will close, resulting in 241 jobs being lost.