SACRAMENTO, Calif. – The Golden 1 CU said yesterday it has reduced its headquarters staff in Sacramento by 25 full-time positions in response to the weak local and national conditions.
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The layoffs represent less than 2% of the $7.5 billion credit union’s total employment of 1,350.
The layoffs announced Thursday are in addition to reductions the credit union has managed through attrition.
The state’s largest credit union reported a $4.8 million operating loss for the first quarter of 2009, coupled with a $41.4 million charge for its investment in WesCorp FCU and an $8.7 million charge for the corporate bailout–creating a $54.9 million loss for the first quarter.
