America’s Credit Unions to Layoff 25% - 30% of Workforce

America’s Credit Unions will implement layoffs of 25 - 30% of its workforce, according to a WARN Notice delivered to and posted on the website of the Dislocated Workers Unit of the Wisconsin Department of Workforce Development on Jan. 12. 

The letter stated that it will affect employees across all offices, and the layoffs will begin in March 2024 and could run until July.

The trade association, newly created from the merger of CUNA and NAFCU, also notified Kathryn Bartlett-Mulvihill, Business Manager and President of OPEIU Local 39 as well as the mayor of Madison.  

Those employees who are in the collective bargaining unit have bumping rights under the collective bargaining agreement with the company. According to the Department of Labor, bumping rights allow workers with greater seniority whose jobs are abolished to replace (bump) workers with less seniority so that the worker who ultimately loses his/her job is not the worker whose job was abolished.