DENVER — Denver-based global money transmitter Western Union (NYSE:WU) is laying off 10% of its staff and will be consolidating its corporate and business offices. But Rachel Rolgala, a spokeswoman for Western Union, told Denver Business Journal last week that the company remains committed to Colorado.
“While our business transformation will incur impacts in some geographies, we plan to elevate our Denver headquarters, growing our presence in our hometown, including a talent shift as we seek to take advantage of Denver being a tech hub,” Rolgala said in an email.
“We are still informing employees and cannot speak to the details at this point in time. The process of reshaping our organization will not happen overnight, but we will move swiftly. We will share more information with you as plans develop, and specifically where they apply to Denver, but know that we’re fully committed to maintaining and growing our headquarters in Denver.”
As of December 31, 2018, Western Union employed approximately 12,000 employees, of which approximately 2,400 employees are based in the U.S., according to an SEC filing.
The layoffs are part of a new cost-cutting global strategy program that Western Union will reveal at its investor day event on Sept. 24 in Denver, an SEC filing said. The cost-cutting program is expected to cut $100 million from Western Union’s annual costs starting in 2021. Additionally, Western Union predicted that the program will result in $50 million in savings in 2020.
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