STRATEGIC PARTNERS
September 15, 1999
DAYTON, Ohio -- NCR is offering an early retirement plan to 1,200 of its 2,800 field technicians and managers in hopes of saving about 30 percent in labor costs. The cost-cutting move comes on the heels of an announcement that NCR is acquiring Gasper Corp., a Dayton, Ohio-based company that makes products designed to improve ATM uptime through automatization and remote monitoring. According to an Associated Press story, an NCR spokesman said fewer field personnel are needed because more repairs on ATMs can now be done remotely. The plan will allow employees who are at least 55 years old and have 10 years of service to retire without penalties. Normally, those employees would incur a 6 percent pension reduction for each year that they retire before age 62. Employees with at least 30 years of service by Dec. 31 also will receive a severance payment. Employees eligible for the offer have an average of 22 years of seniority. About half of them are expected to take the offer.
