Debt buyer Asset Acceptance Capital Corp., based in Warren, Mich., will lay off 125 employees this spring. The firm's parent company, Encore Capital Group, disclosed the layoff plans this week in a required filing with the state.
The layoffs are scheduled to happen by May 1.
The formerly public-traded company was bought by San Diego-based Encore for $200 million in March 2013. Encore officials at the time said that the combined company had purchased more than 60 million individual consumer accounts, including credit card, telecommunications, consumer loans and other related assets, with a face value of more than $130 billion.
An Encore representative said the job cuts are the result of a call center consolidation and the affected workers had the opportunity to relocate to other call centers in Phoenix or St. Cloud, Minn.