MoneyGram is closing its Brooklyn Center facility, triggering a series of layoffs and leaving the company with only one headquarters in Twin Cities.
The Brooklyn Center facility will close at the end of 2015 and 28 employees will be laid off on June 30 as part of a series of layoffs and transfers that occurred prior to its closure, according to a WARN notice that MoneyGram sent to the state on May 1.
The property employs 376 people.
In an interview, a MoneyGram spokeswoman said it does not renew the lease at Brooklyn Center, which expires in 2015, and is consolidating employees at the company's remaining facility in St. Louis Park, where he renewed the lease.
"We're not withdrawing from Minneapolis at all," Michelle Buckalew said.
MoneyGram International Inc., one of the largest money transfer companies in the country, has moved its headquarters from St. Louis Park in 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 multi-channel growth and improve our cost structure."
MoneyGram, founded in Twin Cities as Travelers Express in 1940, was once part of Greyhound and later an Arizona-based conglomerate until it was spun off in 2004.
Prior to the decision to move its headquarters to Texas, the company had 900 employees in Minnesota, 900 in Colorado and 800 in Texas and elsewhere around the world.
But at the time the company said its business was "already well established in Texas," a flagship market for the company where it had several thousand locations for money transfers.