Business Services Industry
Irving, Texas-Based Associates First Capital to Cut Jobs in Acquisition.
Knight Ridder/Tribune Business News, January, 1999 by Power, Stephen
Knight Ridder/Tribune Business News
Jan. 8 -- Irving-based Associates First Capital Corp. said Thursday that its $3.9 billion purchase of Avco Financial Services Inc. will involve cutting 625 Avco jobs in California and Colorado, but may bring some new workers to Associates' Southlake technology facility.
Of the more than 600 Avco employees affected, about 200 at Avco's technology facility in Costa Mesa, Calif., will be allowed to transfer to Southlake or an Associates facility in South Bend, Ind., Associates officials said.
Employees who decline to transfer will be offered jobs by one of the Associates' suppliers in Southern California, Associates officials said.
Severance packages will be offered to 200 employees at Avco...
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