DAYTON, Ohio – NCR Corp. said yesterday it will outsource production of its ATMs in the Americas and shuffle the manufacturing of ATMs among its overseas plants to save money, a move that will eliminate nearly 1,200 jobs. NCR has about 29,300 employees worldwide. NCR said the cuts will be made over the next nine months. ATM production in a number of locations -- including Dallas, Canada, and Sao Paulo, Brazil -- will be shifted to an outside manufacturer.NCR plans to move high-volume production of ATMs from Dundee, Scotland, to plants in Beijing, China; Budapest, Hungary; and Pondicherry, India. The announcement came just two days after NCR said it will spin-off its Teradata data storage operations from the ATM and financial kiosk manufacturing operations.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
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The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.
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