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First Data sheds six percent of workforce

First Data sheds six percent of workforce

(20 November 2007 – USA) Technology payments outfit First Data is shedding 1700 jobs in the US just two months after it was purchased by private equity firm Kohlberg Kravis Roberts (KKR). The job losses constitute almost six percent of First Data’s international workforce.

First Data in Australia provides payments technology for BankWest and the two parties signed an alliance two years ago to provide merchant acquiring services.

First Data recently announced its third quarter net income dropped 73 percent primarily because of after tax costs associated with the KKR acquisition.
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