Wednesday, Jul. 25, 2007, 08:00 PM UPDATED 11:59 AMBy Nick Zulovich
HUNTINGTON BEACH, Calif. — A Triad Financial Corp. spokesperson told SubPrime Auto Finance News this week that company officials have decided to relocate remaining operational functions to their facility in North Richland Hills, Texas.
After reviewing business, executives determined the move makes sense and will improve efficiencies.
As part of this decision, the company said about 120 positions will be relocated from Huntington Beach, Calif., to the Texas offices. According to the spokesperson, more than 80 percent of the folks impacted at the California facility have been offered relocation packages.
"The functions to be consolidated include the remaining California operational functions — loss recovery and remarketing," said Charlene Lewis, Triad's director of corporate communications.
"As a result, we will also designate North Richland Hills as our corporate headquarters," she continued. "We hope those offered relocation packages will seriously consider moving, but if they choose not to, we will look to fill those positions locally in Texas.
"So we will be hiring employees in Texas, but it's still too early to know how many or for which roles," she added.
The first moves are slated to begin in about 60 days, and officials anticipate the transition to be completed by the end of the year.
However, the company said 126 employees in departments such as IT and finance will continue operating out of the California offices.
"Triad encourages all employees in good standing whose positions are being transferred to explore their opportunities in our Texas location," officials said. "Relocation assistance will be available to qualified employees selected to move.
"In keeping with our values and policies, those who do not move will be provided comprehensive pay and benefits packages," executives stated.