Western Union said Thursday it would eliminate 200 jobs, including 60 in metro Denver.
The job cuts represent about 2.5 percent of Western Union’s global workforce of 6,000 and 4.6 percent of its metro Denver workforce of 1,300.
“This decision is difficult but necessary to position the company for continued success in this challenging economic environment,” said company spokesman Dan Diaz.
Diaz said the Greenwood Village company evaluated all scenarios before deciding to cut. Displaced employees are being offered separation pay and outplacement services, he said.
Earlier this year, Western Union seemed immune to the global credit crunch, and its stock even managed to hit a new 52-week high of $28.35 on Aug. 15.
But as the credit markets froze in September, signs emerged that a U.S. slowdown was spreading globally, causing the company to tamp down its forecasts.
Western Union shares have plunged since and closed at a 52-week low of $10.87 a share Thursday.
Aldo Svaldi: 303-954-1410 or asvaldi@denverpost.com
