Following an announcement last year, T. Rowe Price is preparing to close an operations center in Tampa, Fla., in June.
The Baltimore-based investment management firm said Tuesday that 169 employees will lose their jobs as a result of the closure, according to documents filed with the State of Florida. According to T. Rowe Price spokesperson Brian Lewbart, all of the employees will receive severance benefits and will be offered outplacement services.
In all, the office employed 400 people when the closing of the center was initially announced. As a result, 200 positions were transferred to offices in Owings Mills, Md., and Colorado.
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