CARSON CITY, Nev. – Greater Nevada CU, weighed down by an $8 million 2008 loss followed by a $4 million loss for the first quarter, announced Friday it is shuttering two branches and laying off 27 employees.
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Five of the 27 laid-off employees worked on a part-time basis. The others were full-time employees. Full-time employees who had worked for the company for at least a year were given lump-sum separation payments that were equal in some cases to three weeks pay, according to officials with the $560 million credit union.
The branches being closed are in Sparks and Carson City.
