First Data plans to lay off 1,700 employees

First Data plans to lay off 1,700 employees
Tags: Bank / Credit Union, EFT Networks, North America, Other, Public Companies, Transaction Processing
November 19, 2007

Digital Transactions: Two months after the $29 billion buyout of First Data by private-equity firm Kohlberg Kravis Roberts & Co., First Data is cutting 6 percent of its workforce - about 1,700 employees. The company's headcount at year-end, however, is expected to maintain its year-ago level of approximately 29,000 employees. A spokesperson said First Data would consolidate a number of smaller sites it inherited through acquisitions.