DENVER — Merrill Lynch & Co. Inc. will close a suburban Denver office by midyear, giving about 1,050 employees a choice of relocating or losing their jobs.
The employees who work at a call center and account processing division in Englewood will have the option of moving to Merrill Lynch offices in Hopewell, N.J., or Jacksonville, Fla., company spokesman Bill Halldin said Thursday.
"Due to significant overcapacity at our three operations centers, it became necessary for us to consolidate operations at two facilities," the company said.
The cutbacks do not affect financial advisers. Merrill Lynch will have about 400 employees in offices throughout Colorado after the Englewood operations close.
Merrill Lynch opened its Englewood operation in 1997, but the recent nationwide downturn forced the company to scale back, spokesman Joe Cohen said.
He said the company will sell its 420,000-square-foot Englewood building.
Worldwide, Merrill Lynch has cut 6,100 jobs in the past 12 months. The company's Web site reported 72,000 employees in 2000 and 65,900 at the end of last year.