Credit Union Trade Group to Cut 25% of Wisconsin Workers
America’s Credit Unions updates layoff plans to say it will cut about 38 of its 154 workers in the state starting March 15.
The America’s Credit Unions trade group has updated its layoff notice to say that it expects about 38 of its 154 workers in Wisconsin to be laid off starting March 15.
The trade group, formed Jan. 1 from the merger of CUNA and NAFCU, had submitted a layoff notice Jan. 12 to the Wisconsin Department of Workforce Development saying it expected to permanently lay off about 80 to 96 of its 320 employees based in Wisconsin, Virginia and Washington, D.C. from March through July.
The 25% to 30% of workers to be laid off included employees at the former CUNA’s headquarters in Madison, Wis.
The Jan. 22 update added the sentence: “We estimate that approximately 25% (38) of our Wisconsin workforce (154) could be affected beginning March 15, 2024.”
America’s Credit Unions sent an email comment to CU Times Thursday saying Wisconsin law requires it to provide notice to the state when a workforce reduction in a state-based business might take place.
“Aside from our Executive Leadership Team and the appointment of leaders for our Legal, DEI and Transformation Management teams, there have been minimal personnel and no office facility decisions made at this time,” the trade group said.
The email continued, “While we must responsibly and efficiently align the size of our workforce to effectively serve our members and remain good stewards of their dues, the association is committed to treating all employees fairly and with respect throughout this transformation process.”
The Jan. 12 and Jan. 22 letters from Susan Parisi, AmCU’s chief corporate counsel, said the reasons for the layoffs were the CUNA-NAFCU merger “and forecasts of business needs going forward.” She wrote that the layoff might affect all job titles and decisions on individuals affected had not been finalized.
“The company will supplement this notice as additional information becomes available,” she wrote. “This is a difficult decision, and we appreciate any assistance you may provide to our employees in this difficult period with their job search and transition.”