Citigroup Lays Off 105 Collection Employees in Iowa

DES MOINES, IA – Citicorp Credit Services Inc. is laying off 105 employees in suburban Des Moines, the latest fallout from parent company Citigroup’s purchase of Sears and Roebuck Co.’s credit card business last summer.

The move, disclosed in a mandatory notice to state government, is effective May 2. The company is the debt collection arm of Citigroup, the nation’s largest financial institution.

Most of the affected workers contact customers about payments. Their managers also are affected.

The jobs are being moved from Citigroup offices in West Des Moines to other locations across the country, a spokeswoman said.

Citigroup continues to consolidate operations following its $32 billion purchase of Sears’ credit and financial products service division. The sale, which transferred 8,300 Sears employees and several call centers across the country to Citigroup, was complete in November.

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