Credit card firm sheds 750 jobs - BBC News

A sum of 750 staff in Nottingham are to lose their occupations at depository financial institution and recognition card company Capital One.

The proclamation was made to staff on Tuesday and most of the occupations to be axed are in IT and Operations.

The company said it needed to remain economically competitory and advanced in the United Kingdom recognition card market.

The United States house opened its European central office on Station Street in Nottingham in 1998 and currently have 1,750 staff.

Capital One have promised to assist those workers who are made redundant happen new jobs.

Srini Gopalan, caput of Capital One Depository Financial Institution (Europe) plc, said: "Whilst this was a hard determination for the United Kingdom direction team, it is recognised that this is portion of the in progress attempt to guarantee the concern model is in a topographic point that supports an overall competitory scheme in the United Kingdom market."

Nottingham City Council leader Council Member Jon Wilkie Collins said his first ideas were with the company's employees who were affected by the news and their families.

He added: "We're proud to be the host metropolis for Capital One's European central office and it's obviously very dissatisfactory to hear that so many occupations are to go...

"Nottingham City Council, with our partners, volition work with Capital One to supply further support that will aid affected employees happen their manner into appropriate, option employment as soon as possible."