Citigroup Inc. will close a credit card servicing center in Iowa and cut 450 jobs, a company spokeswoman said on Thursday, as Citigroup integrates the Sears credit card operations bought last year into its national network.
The West Des Moines credit card processing and call center will be shut down by the end of the second quarter of 2005, said spokeswoman Janis Tarter in New York.
Employees at the West Des Moines center will be offered severance packages and assistance finding a new job, possibly at other expanding Citigroup card facilities in the U.S., she added.
The Iowa credit card facility was acquired when Citigroup bought Sears, Roebuck and Co.’s credit card operations in November 2003. Other Sears employees unrelated to the card unit at that location will be unaffected.
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