Providian Trimming 220 Jobs

Providian ( PVN) said Wednesday it would trim 220 jobs in shutting down its San Antonio, Texas, customer service operation.

The San Francisco-based credit card issuer said it was making the move in a cost-cutting effort.

"This was a difficult decision," said customer service exec Mike Laubsted. "But consolidating our operations to better match the size and needs of our customer portfolio is necessary from an efficiency standpoint."

The company said San Antonio workers would be given job placement services and offered the opportunity to transfer to Providian's Arlington, Texas, facility. In addition, Providian will sponsor a job fair with local employers.

Providian employs about 4,500 workers.

On Wednesday, Providian rose a dime to $14.77.

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