Numerica to lay off about 25 employees as part of restructuring

Numerica Credit Union will lay off about 3.5% of its workforce as it restructures “in response to the evolving economic landscape and the changing needs of its members,” a news release said Tuesday.

All 22 branches will remain open and services will continue uninterrupted, Numerica spokeswoman Stephanie Stevenson said.

“We value the contribution of all of our team members and deeply regret the need for these layoffs,” President and CEO Carla Cicero said in a statement. “We are committed to supporting our affected employees through this transition.”

Approximately 25 reductions will be across the organization in both management and nonmanagement level positions. Laid-off employees will receive a severance package, including job placement support such as resume review and interview coaching.

Economic shifts – including inflation, rising home prices and increasing interest rates – are driving changes in member preferences for financial products, Stevenson said in an email.

Numerica’s financial position remains strong, she said. The Spokane Valley-based credit union serves more than 175,000 members across central and Eastern Washington and North Idaho with more than $5 billion in assets under management.