Credit card firm sheds 750 jobs

BettiePage

http://news.bbc.co.uk/1/hi/england/nottinghamshire/7337089.stm

A total of 750 staff in Nottingham are to lose their jobs at bank and credit card company Capital One.

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

The company said it needed to stay economically competitive and innovative in the UK credit card market.

The US firm opened its European headquarters on Station Street in Nottingham in 1998 and currently has 1,750 staff.

Capital One has promised to help those workers who are made redundant find new jobs.

Srini Gopalan, head of Capital One Bank (Europe) plc, said: "Whilst this was a difficult decision for the UK management team, it is recognised that this is part of the ongoing effort to ensure the business framework is in a place that supports an overall competitive strategy in the UK market."

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

He added: "We're proud to be the host city for Capital One's European headquarters and it's obviously very disappointing to hear that so many jobs are to go...

"Nottingham City Council, with our partners, will work with Capital One to provide additional support that will help affected employees find their way into appropriate, alternative employment as soon as possible."

skyrider007

At least their call centre remains in the UK.

System

skyrider007 wrote: »

At least their call centre remains in the UK.

Have you ever called Capital One????!

FelOn_2

skyrider007 wrote: »

At least their call centre remains in the UK.

Haha, not for long if they are cutting 750 staff and trying to drive down costs for a "competitive strategy".

YorkshireBoy

skyrider007 wrote: »

At least their call centre remains in the UK.

But for how much longer?

That's a massive cull, with 43% of staff losing their jobs.

You can't 'absorb' those kind of losses. Unless they were totally inefficient before (highly doubtful), they simply must outsource...and probably overseas.

System

But the thing is Capital One's customer service call centre is already in India......

UNDERGROUND

skyrider007

Last time I called (November) the Cap1 lad was an English man.

Thomas99

skyrider007 wrote: »

Last time I called (November) the Cap1 lad was an English man.

Huh, how do you know that? Last time i called it sounded like a yank, and on further enquiry, i was informed the dude was sitting in India!

ShelfStacker_3

It's usually been pot luck whether I've been taken to India or not when calling Capital One. *shrug*

NickX

Yes I have dealt with call centres both in India and the UK when dealing with Capital One.

It looks like it will most probably be India now though

TheExpert

The Call Centre you dealt with is dependent on the time of day at which you called and the precise number you dialled. There is (currently) a UK AND foreign call centres.