NCR Pays $21 Million In Severance Through September

NCR Corp. paid $21 million in severance to laid off workers during the first nine months of the year as part of the global realignment of the company’s ATM manufacturing, according to a U.S. Securities and Exchange Commission filing. The Duluth, Ga.-based company terminated approximately 900 workers in the Americas, Europe, Middle East and Africa, Asia Pacific and Japan between Jan. 1 and Sept. 30, according to the filing. The layoffs eliminated redundancies and freed up funds to invest in growth programs such as sales, engineering and market development. NCR expects the layoffs to generate approximately $40 million in annual savings, the company says. NCR, world’s largest ATM manufacturer based on annual shipments, employs 26,000 workers worldwide, but the company has announced plans to cut its workforce by another 5% to 10% to align the size of its staff with sales.