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Economy and Business

Diebold's 700 layoffs are expected to hit Northeast Ohio hard
More cost-cutting follows the shelving of global headquarters plans

Web Editor
M.L. Schultze
In The Region:

Diebold is cutting 700 jobs, and many of them are expected to come from Stark and Summit counties.

The Green-based company announced the layoffs this morning, saying many have already taken place. The security and ATM company hopes to cut $150 million in costs overall, and announced it lost more than $13 million in the first quarter of this year.

It has put plans for a new global headquarters on hold and plans to limit travel, cut consultants and reduce company vehicles as well.

Diebold employs about 2,000 people in Northeast Ohio.

George Mayes Jr. was appointed chief operating officer after former Chief Executive Thomas Swidarski resigned under pressure earlier this year. Diebold is trying to find a new CEO and says the process is going well. 

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