Brinks Home Security, a security-services provider with roots in St. Mary’s, Kansas as LiveWatch Security, has laid off over 70 customer care employees from their Manhattan, Kansas office. LiveWatch Security was acquired by Ascent Capital Group (ASCMA) subsidiary Monitronics in 2015 for 67 million dollars. The layoffs follow the elimination of part-time customer care positions from the Manhattan office and a layoff of all customer care employees in the company’s St. Mary’s office.
Prior to rebranding as Brinks Home Security, LiveWatch Security opened its Manhattan office in the Kansas Farm Bureau Building on Seth Child Road in March 2016, growing from eight employees to over 200 by March 2018. In that time, LiveWatch’s parent company, Monitronics, rebranded as MONI, keeping LiveWatch as a subsidiary brand, before agreeing to a trademark agreement with the Brink’s Co. for the exclusive use of Brink’s trademarks in February 2018. With that agreement, both LiveWatch and MONI became Brinks Home Security.
Based on that growth and future expectations for the Brinks Home Security brand in Kansas, Brinks expanded their lease in March 2018 with the Kansas Farm Bureau, nearly doubling their footprint on the building’s first floor. The company’s growth also led to the completion of a building in St. Mary’s, which was intended for customer care and sales operations. However, those projections were not reflected in the company’s stock price, as the ASCMA stock price has fallen 98.75 percent from a January 2014 high.
This is a developing story.