Bread Financial, a credit card and banking services company, has announced layoffs that will affect hundreds of employees. The company is based in Ohio, and 130 employees in the state will be cut, while 500 workers will be laid off in total. The layoffs are due to outsourcing customer service positions to other countries. Bread Financial stated that the decision would improve efficiency and will allow the company to better meet customer needs and demands. The company will provide affected employees with severance pay as well as outplacement services. Bread Financial was not required to file a WARN notice, because the layoffs did not affect more than one-third of the company’s workforce, so the layoffs are not classified as mass layoffs.
See "Bread Financial announces layoffs due to outsourcing of customer service jobs", Mark Feuerborn, NBC 4i, October 25, 2024