MoneyGram is closing its Brooklyn Center facility, sparking a series of layoffs and leaving the company with just one location in the Twin Cities.
The Brooklyn Center facility will close at the end of 2015, and 28 employees will be laid off June 30 as part of a series of layoffs and transfers occurring before its closes, according to a WARN notice MoneyGram sent the state dated May 1.
The facility employs 376 people.
In an interview, a MoneyGram spokeswoman said it is not renewing its lease in Brooklyn Center, which expires in 2015, and is consolidating employees at the company’s remaining facility in St. Louis Park, where it has renewed its lease.
“We’re not pulling out of Minneapolis at all,” said Michelle Buckalew.
One of the country’s largest money transfer companies, MoneyGram International Inc. moved its headquarters from St. Louis Park to Dallas in 2011.
In a statement, Buckalew said the company launched a global restructuring program in February “designed to help us lead the industry in compliance, fuel multichannel growth and improve our cost structure.”
MoneyGram, founded in the Twin Cities as Travelers Express in 1940, once was part of Greyhound and later part of an Arizona-based conglomerate until it was spun off in 2004.
Before the decision to move the headquarters to Texas, the company had 900 employees in Minnesota, 900 in Colorado and 800 in Texas and elsewhere around the globe.
But the company said at the time that its business was “already well-rooted in Texas,” a top market for the company in which it had several thousand money transfer locations.