Posted on 01/19/2011 8:00:34 AM PST by Qbert
NEW YORK (AP) -- American Express said Wednesday it plans to close a service center in Greensboro, N.C., and cut 550 jobs as more of the credit card company's transactions are handled online and on mobile devices.
The moves will lead to charges that will reduce fourth-quarter earnings.
New York-based American Express said work now handled in Greensboro will be transferred to other locations in the U.S. A broader consolidation plan also will transfer work from a center in Madrid, Spain, to sites in the United Kingdom and Argentina, and shift service support for Japanese card operations from Sydney, Australia to Japan.
American Express said the changes will result in a net reduction of 550 jobs. Because the changes involve relocating work to different sites, some 3,500 existing positions will be affected. Most of the changes will be completed by the end of next year. The company employs about 58,300 workers overall.
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