Western Union is hit greatly by world financial crisis

Western Union, the leading money transfer company has announced the great lay off. According to Dan Diaz, the company’s spokesman the money remittance service is going to eliminate some 200 jobs worldwide. The company didn’t mention the exact position however it was told that mass dismissal will also touch some managing positions. The only reason Western Union provides is world financial crisis, or "challenging economic environment" as the company representative called it. Such decision was unexpected especially since last moneth the company has announced 11% increase in profits.

Being more specific Western Union told that approximately one forth of all the dismissals will occur at its corporate headquarters south of Denver. The total number of people working for Western Union is more than 6,000 hence 3.3% of all Western Union’s employees will be fired.

Diaz said that it was uneasy for the company to make such a decision however they had to cut the kobs to save the company. “Western Union officials have evaluated all relevant scenarios," said he. When asked about the affected employees, the company representative told that the employees would be eligible for separation pay and outplacement benefits.