Equifax Cuts 700 Jobs
Equifax Inc., an information solutions provider and the largest credit reporting agency in the United States, cut 700 jobs, primarily outside the United States, the company reported last week.The cuts, mostly made over the past quarter in Europe and Latin America, decreased the company's workforce more than 11 percent to 5,200 employees.
The company said solid results from its North American consumer reporting business would lead it to meet Wall Street operating earnings estimate expectations of 32 cents for the fourth quarter, excluding about $60 million in special charges. The charges consist of approximately $37 million for employee severance and facilities consolidation and $23 million to write-down several technology investments.
Equifax will report its fourth quarter and year-end results Jan. 24.
