Human resources firm Gevity lays off executives days before merger

Bradenton human resources firm Gevity has laid off its top five executives, just days before its purchase by California's TriNet Group is finalized.

According to a filing with the Securities and Exchange Commission, Gevity served termination notices to chairman and CEO Michael J. Lavington, chief financial officer Garry J. Welsh, and three other senior vice presidents.

TriNet's $98 million acquisition of Gevity closes Monday. Gevity reportedly has recently laid off 50 employees, or about 10 percent of its work force, on the heels of earlier layoffs.