First Data Trims Workforce

December 21, 2005, 1:00 a.m. EST 1 Min Read

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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.

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