In 1988, the company undertook a massive reorganization in response to rapidly changing business conditions. In particular, this need has arisen due to many technological changes that have taken place at that time. Company name was changed from Western Union Telegraph Co. to Western Union Corp. In the Western Union in the 30s of the 20th century worked 14 thousand couriers delivering telegrams. Leaving the idea of expansion into Europe, Western Union took up the expansion of services in the U.S. market. Money transfer is a matter of minutes, at any distance. By 1861 Western Union telegraph lines entangled the whole America. It's time to explore Europe. In 1864, fearing the laying of long underwater lines, Western Union offered to carry out laying of telegraph lines to Europe through the Russian Alaska under the narrow Bering Strait and then to Siberia with branching in the major cities of Europe. In 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company. The Western Union Company uses the most up to date technologies and its unique worldwide computer network that allows to carry out quick money transfers payments in more than 190 countries around the world. In the summer of 1990 top managers of the Western Union Company spent day and night in the main office in Englewood (Colorado, USA). They needed to meet the challenge: to save the Western Union from bankruptcy, paying off the debts of the company millions of dollars. Western Union made so that the time in all of American civil services was the same.
Western union sending money to Indonesia
Leaving the idea of expansion into Europe, Western Union took up the expansion of services in the U.S. market. Money transfer is a matter of minutes, at any distance. In the Western Union in the 30s of the 20th century worked 14 thousand couriers delivering telegrams.
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Western Union has taken of 451st position in the rating Fortune 500 in 2009, having moved from 473rd line in 2008. 1998 - the number of points of money transfers worldwide reached 50,000. The network of money transfers of Western Union is the world's largest. In 1920, Western Union has implemented the world's first transmission of images over the ocean. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. In April 1851 companions registered in Albany New York and Mississippi Valley Printing Telegraph Company (NYMVPTC), which included founded two years before New York State Printing Telegraph Company. In October 2006 the company made an initial public offering of shares on the New York Stock Exchange, becoming independent from First Data company. Western Union incomes for 2007 have made $4,9 billion US dollars, and the quantity of transactions has made 572 million. In 2000 was launched the Web site westernunion.com, with which users from certain countries can independently transfer funds online. The first offices of company were located in the Reynolds Arcade building in Rochester, New York. The sign above the main entrance to the building - Gold Card Loyalty Program Western Union