Fidelity National Information Services, which acquired Metavante Technologies last year, said it is closing a Metavante office in Madison, Wis., and terminating 157 employees who work there.

The first wave of layoffs will begin July 15 and will continue through March 31, 2011, according to the company.

The move is part of a company-wide cost-cutting aimed at trimming expenses by $260 million a year.

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