Western Union to eliminate 200 jobs worldwide
Story By: Associated Press
Source: AP
Published Fri Nov 21, 2008, 08:41 AM MST
Updated Fri Nov 21, 2008, 08:41 AM MST
Money-transfer agent Western Union Co. says it will eliminate some 200 jobs around the world,
including management and staff, as a result of a "challenging economic environment."
The company says 60 of the job cuts will occur at its corporate headquarters south of Denver. Spokesman Dan Diaz says Western Union officials "evaluated all relevant scenarios" before deciding to cut jobs. The cuts represent roughly 3.3 percent of Western Union's global workforce of more than 6,000 people.
Diaz says affected employees will be eligible for separation pay and outplacement benefits.
In October, Western Union reported an 11 percent increase in profits for the third quarter, but also tightened its earnings outlook for the year.
