CARMEL, Ind. — In an exclusive with SubPrime Auto Finance News, KAR Holdings' AFC and AFCD announced Wednesday that they are downsizing operations within certain markets, in addition to trimming the overall work force.

This move is due to the steady deterioration of the economy and the auto industry, in particular, over the last 18 months, which has led to increased pressures within select markets for both AFC and AFCD.   

The reductions are designed to realign operations with current economic conditions, officials indicated. 

The realignment strategy includes the consolidation of two AFC branches, the closure of five AFC branch locations and an overall reduction in work force.  

"The recent changes made at AFC and AFCD will serve to strengthen the position of both companies as leaders in a challenging economy," Polly Weston, director of marketing operations, explained to SubPrime Auto Finance News Wednesday.

"The process enables both to continue to provide top-notch products and services as well as maintaining the superior level of customer service they are known for within the industry," she added.