Equifax is cutting 700 employees from its payroll, a move expected to save the company $20 million in 2002.
The credit information provider said that “the vast majority” of the reductions would come from outside of its United States operations. The company had 5,200 employees as of Jan. 10.
Severance and facility consolidation charges will cost Equifax $37 million. The Atlanta-based company said it would take a $23 million writedown in technology investments in its fourth quarter. The firm plans to release its fourth quarter and full-year financial statements Jan. 24.
