Cash America launches job cuts in wake of First Cash merger

Cash America is cutting jobs in Fort Worth in the wake of its merger with Arlington-based First Cash Financial Services.

The pawn shop operator is trimming 69 positions in Fort Worth by Dec. 23 as the companies integrate their workforces, according to a WARN notice filed with the Texas Workforce Commission.

The jobs are spread across a variety of functions and represent either positions that overlap with First Cash or others being eliminated, said spokeswoman Yolanda Walker.

The companies completed their merger in September. The new company, called FirstCash Inc., plans to consolidate its headquarters operation at the former Cash America headquarters just west of downtown near the Trinity River.

At the time the merger was announced in April, Cash America had 245 employees in Fort Worth and First Cash had 88 in Arlington.

Walker said a few of the First Cash executives have moved into the Fort Worth building, and the other workers in Arlington plans to move sometime next year. The majority of Arlington-based First Cash employees are expected to remain with the combined company, said Doug Orr, the company’s chief financial officer.

Rick L. Wessel, formerly CEO at First Cash Financial, is now vice chairman and CEO of FirstCash. T. Brent Stuart, who was president and chief executive officer of Cash America, is now president and chief operating officer of the merged company.

FirstCash plans to continue operating retail locations under both the First Cash and Cash America brands. The merged company has more than 2,000 locations in the U.S. and Latin America.

This story was originally published October 25, 2016 at 11:09 AM with the headline "Cash America launches job cuts in wake of First Cash merger."