RadioShack to Lay Off Workers, Outsource Security Installations and Monitoring for Stores
RadioShack will lay off about 70 people as it outsources the installation and monitoring of security systems for its retail stores.
The move is part of the Fort Worth company's plan to focus on its retail business and exit its nonstrategic businesses.
RadioShack spokesman Charles Hodges said the company is currently negotiating with several companies to take over its Tandy Security Systems and TanSeco Systems subsidiaries. The company hopes to have outsourcing contracts completed by the end of October. The layoffs are expected by mid-November, company officials said.
The two subsidiaries, located in downtown Fort Worth, currently install the security systems and then monitor those alarm systems for 5,100 company-owned RadioShack stores and for corporate facilities, such as distribution centers and office buildings.
Some of the affected employees will be offered positions at the new security companies. Those who lose their jobs will be offered a severance package, Hodges said. The company declined to outline details of its severance plan for laid-off workers.