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St. Louis-based Felco Auto Lease Inc., a unit of Japanese trading giant Itochu Corp., is eliminating about 60 employees here in efforts to cut expenses.
Jim Noonan, president of Felco, said the company plans to outsource almost all of the account servicing operations done at its corporate headquarters at 9811 South Forty Drive. Only 15 to 20 of about 80 employees who work at the center will remain after the layoffs, which are scheduled to be completed by Aug. 30, he said.
"We will be doing some downsizing, but we are still in business," Noonan said. "My own future is not certain."
The cuts at Felco come almost three years after losses prompted the company to abandon the auto leasing business and lay off 20 percent...