Meta Financial Group Cuts 40 Jobs

Meta Financial Group will lay off 40 employees in its Meta Payments System Division. More than half those job cuts will occur at the company’s Sioux Fall, South Dakota location. CEO J Tyler Haahr announced the job cuts are a cost-cutting program and that the company is working on a plan to raise capital, lower expenses, reduce risk, improve earnings and refocus on payment systems. Meta Payment is prepaid debt card issuer and also offers prime and sub prime pending products, ATM sponsorship and Visa and MasterCard payment options for gift and incentive cards. Employees were notified on Tuesday of the job cuts. Meta Financial group is worth $835 million and is headquartered in Storm Lake, Iowa.