PAOLA, KAN -
The town of Paola, Kansas, is feeling the cold reality of the poor economy after one of the town's main employers, Great Southern Bank, announced that the majority of their workers will be laid-off.
Great Southern took over the bank after Team Bank failed last month, and at the time bank representatives said that there would not be any lay-offs. But on Thursday, dozens of employees began picking up their pink slips.
More than 50 people are expected to lose their positions with the bank, which could have a big impact on businesses in Paola, many of which depend on bank employees for their business. The bank says that they will handle most of their operations from their headquarters in Springfield, Missouri.
"When people are losing their jobs they tend not to spend that much money and don't go out that often and might not shop at the local stores," said Hannes Poetter, of Beethoven's 9th German restaurant just off the main square in Paola. "So everybody gets a little more faced with the reality of a bad economy, and that certainly has an impact."
Great Southern took over the bank after Team Bank failed last month, and at the time bank representatives said that there would not be any lay-offs. But on Thursday, dozens of employees began picking up their pink slips.
More than 50 people are expected to lose their positions with the bank, which could have a big impact on businesses in Paola, many of which depend on bank employees for their business. The bank says that they will handle most of their operations from their headquarters in Springfield, Missouri.
"When people are losing their jobs they tend not to spend that much money and don't go out that often and might not shop at the local stores," said Hannes Poetter, of Beethoven's 9th German restaurant just off the main square in Paola. "So everybody gets a little more faced with the reality of a bad economy, and that certainly has an impact."
