ENGLEWOOD, Colo. -- Englewood-based Western Union announced Thursday that it has laid off 200 people worldwide, with 60 of those jobs in Colorado.

The cuts include both management and staff.

"This decision is difficult but necessary to position the company for continued success in this challenging economic environment. As we streamline our list of priority activities, we must also take the difficult step of eliminating positions in certain areas of the business. We evaluated all relevant scenarios before coming to this conclusion," said Dan Diaz, a spokesman for Western Union.

Diaz said affected employees will be eligible for separation pay and outplacement benefits and, where possible, some may be offered other opportunities within or outside the company.