Capital One ( COF) set plans to close its site in Boise, Idaho, eliminating 290 jobs.

The credit card company said the move, expected to take place in February 2006, would help it "better align its operations and facilities with the strategic direction of the company."

The McLean, Va., company said it would seek to offer job training and other services to affected workers.

Shares of Capital One dropped $1.58 Wednesday to $77.13.