The company filed a Worker Adjustment and Retraining Notification with the state that it would lay off those finance jobs between May 1 and Dec. 31.
“In a competitive market, driven by a number of factors, Source One determined that it is most strategic for the company to consolidate work into two other facilities and close Jacksonville,” said a statement from the company.
It said there might be job opportunities for some employees at other facilities in Atlanta and Rhode Island, where production will be reallocated.
Source One Direct, a subsidiary of Gemalto Inc., said it planned “to gradually decommission the business” in Jacksonville.
“The gradual reallocation of production volumes is expected to begin in the spring and will continue through the end of 2017,” it said.
The company bought the building it occupies in December 2014. It said Friday it was evaluating the best course of action for the property, at 7357 Digital Circle.
Atlanta-based Source One Direct is part of Gemalto, an Amsterdam company whose U.S. headquarters are in Austin, Texas.
Source One Direct provides personalized credit cards for companies and businesses. It took over a Jacksonville building and 175 employees from Citi Cards as of Jan 1, 2015.
Source One Direct paid $3 million for Flagler Center property it bought from Citicorp Credit Services Inc. USA. It aquired 9.3 acres, including a 62,880-square-foot building, on Dec. 29, 2014.
A Citi spokeswoman said in January 2015 the company informed 175 employees in its Jacksonville transaction services processing facility in October that their jobs would transition to a Citi vendor, as would the facility.
Citi made the decision as part of its ongoing evaluations to find ways to increase efficiency while responding to changing business needs, she said.
The move was a small part of Citi Cards’ Jacksonville presence of 3,000 area employees.
Citi Cards has long operated a major credit-card operation at the Flagler Center campus that it began developing in 2003. The campus was built to handle customer service, collections and technology.
Citicorp Credit Services continues to own a large campus there. At the Citi Cards campus dedication in 2005, then Gov. Jeb Bush, Mayor John Peyton and others welcomed the company and its largest Citi Cards site in the country.
Source One Direct and a sister company had been purchased in May 2014 by Gemalto, which says it is the world leader in digital security.
Source One Direct, which started in 1998, called itself one of the largest providers of personalized card and fulfillment services.
Source One Direct Inc. said Friday it will close its Jacksonville credit and debit card personalization facility in Flagler Center, affecting 170 jobs.