SCOTTSDALE, Ariz. Finova Group Inc. is firing 8.7% of its workforce, the beleaguered commercial finance company said Friday.
The company had notified the 90 employees, 15 of whom work in Phoenix, in the middle of the week. The terminations take effect at the end of the month, said Stuart Tashlik, senior vice president of planning and communication at Finova.
This was part of a plan that we have implemented to streamline the company, Mr. Tashlik said.
Finova will be left with 940 employees.