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Uber plans to discontinue its subprime car-leasing operation as it currently exists, according to The Wall Street Journal. Uber created Xchange Leasing LLC in 2015 in a bid to disrupt the auto loan industry, but it will now sell off or close most of the business by the end of the year, the Journal reports.

The decision to shutter its auto-lending division could result in hundreds of layoffs. Around 500 jobs could be affected, or around 3 percent of Uber’s total 15,000-employee workforce. Not everyone will lose their job, however. Some of those employees could be shifted to Uber’s customer service call centers, for example.

Uber’s executives decided to close Xchange after realizing they had misjudged…

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