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PNC Financial to Close Two Offices; Consolidation Will Eliminate 50 Jobs

Transfer agent and fund accounting firm PNC Financial Services Group of Wilmington, Del., will close its Tampa, Fla., and Westborough, Mass., offices by the end of the year.

The closings will result in the elimination of 50 jobs and the consolidation of redundant retirement services into its Minneapolis and Rockville, Md., offices. PNC's call center and order fulfillment center will be centralized in Minneapolis, while retirement plan client services will be headquartered in Rockville.

The company is closing the offices to keep costs down, Nancy Wolcott, PNC executive vice president, said in a statement.