First Data's move to cut more than 500 jobs from its Denver location drew attention to the company and its relationship to the firm Kohlberg Kravis Roberts.
Hundreds of credit unions process transactions on First Data's credit and debit card platforms, including many that process transactions through payment CUSOs PSCU and The Members Group.
The processor confirmed the job cuts with Denver media outlets on Nov. 21 but made no formal announcement of the move. A company spokesman told The Denver Post the cuts were part of ongoing efforts to increase operating efficiency, reduce excess capacity and remain competitive in the fast-paced payments business.
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