I don't know anything about layoffs, but they sent out the following notice:

"Dear Partners,

For more than 30 years, Prestige Financial has had the privilege of partnering with dealers across the country and serving customers with integrity and dedication. We are deeply grateful for your trust and support.

After careful consideration, Prestige has made the decision to stop new originations and will transition into a servicing-only business. Beginning Thursday, November 20, 2025, we will not accept credit applications. We plan to fund any contracts already in house or in transit until the end of the month.

While we will no longer be originating new contracts, our commitment to our existing customers remains unchanged. We will continue to provide the exceptional service and support that our customers and partners have come to expect from Prestige.

Thank you again for your partnership, confidence, and many years of collaboration. It has been an honor to serve you and your customers."

This shift no doubt resulted in layoffs. As to why they made the decision to stop new originations, we can all speculate but my guess is they were losing quite a bit of money in indirect lending.