DENVER - (12/21/05) -- Financial processing giant FirstData Corp. said last week it plans to layoff 3% of its workforce,or about 1,000 people, by year-end, as it seeks to cut costs. Mostof the layoffs will be in the company's Card Issuing Services unit,which First Data is trying to sell. The company expects to takeadditional actions aimed at further reducing overall operatingcosts prior to the end of 2005 that would result in additionalcharges during the quarter.
Banks are freezing hiring in some areas as they deploy more artificial intelligence.
President Dhivya Suryadevara is leaving the company shortly after assuming the job, the latest move as the company attempts to recover from an earnings slump.
Researchers at the Federal Reserve Bank of New York analyzed more than 3,000 historical bank runs and found that weak financial fundamentals — rather than pure depositor panic — determine whether a bank run translates into a bank failure or broader financial crisis.
The card network embedding technology that enables mobile devices to accept payments without additional hardware.
At face-value, HSAs are for short-term medical expenses, but advisors suggest paying out of pocket to maximize HSA funds for investing and tax-free growth.
The national bank is releasing an upgraded version of its mobile app to its users in phases after absorbing 780,000 former FirstBank customers last month.
