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GTE credit union cuts workers, locations

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By SHANNON BEHNKEN

sbehnken@tampatrib.com

Published: September 30, 2009

TAMPA - GTE Federal Credit Union has laid off employees at its Tampa headquarters and is closing some branches across the country.

Doug Richardson, senior vice president of marketing, said the decision was in response to the sluggish economy.

"It's the first time in the company's nearly 75-year history that it has laid off employees, so it was very emotional," Richardson said. "The board decided the cuts were necessary."

The cuts made up less than 5 percent of the nearly 600 people who work at the headquarters, he said.

The credit union recently closed eight branches so it can focus more on the Hillsborough and Pinellas county markets, Richardson said. Three more branches, in the Orlando market, will close soon, he said.

The layoffs also come after July's announcement that plans to merge with Suncoast Schools Federal Credit Union had been shelved. The two credit unions said in a short statement that the decision was mutual.

Reporter Shannon Behnken can be reached at (813) 259-7804.

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