INDIANAPOLIS - Bank One Corp. confirmed Thursday that it will lay off 250 employees from its home equity telemarketing group in Indianapolis.The company told employees that the move was part of a "strategic realignment" in which the bank will concentrate consumer lending efforts closer to its existing branches. The move, which affects about 5% of Bank One's work force in the city, follows an undisclosed number of job cuts at its credit card subsidiary, First USA Inc., earlier this month.

A Bank One spokesman said the layoffs were part of the bank's effort to consolidate its consumer lending businesses under its retail bank. Bank One has been working to cut costs after several quarters in which earnings were below expectations.

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