Citibank to Close Collections Facility in Pennsylvania

Neshaminy, PA – Citibank will close a former Sears, Roebuck & Co. credit-card operations center in Neshaminy, idling 930 workers, the bank confirmed yesterday.

The collections and customer-service work done there will be transferred to other Citibank facilities, said Maria Mendler, a bank spokeswoman.

Citigroup Inc., the bank’s parent, paid $3 billion last year for Sears’ credit-card portfolio. The deal was completed in November, and, Mendler said, “that’s when you go in and decide how best to organize the business.”

The bank broke the news to employees Wednesday, Mendler said. “When we can be decisive on a particular acquisition, our goal is to tell the employees as quickly as possible.”

In April, Citibank will close the collections operation in Neshaminy, which currently employs 600 people. In December, it will close the customer-service operation, which employs 330.

For this complete story, please visit Citibank to Close Collections Facility in Pennsylvania.