750 people are facing the axe as Capital One decides to cut jobs in its UK head office. The office which currently has 1,750 members of staff is located in Nottingham. It has been the US companies headquarters since opening in 1998. It has been announced that the cuts will mostly affect call centre, account servicing and support staff. Most of these positions will be outsourced to India and other countries. Nottingham City council has said that although the cuts are bad news Capital One will still be a big player in Nottingham and that this at least, is a good thing.In a Business Week article an excerpt from an email which Srini Gopalan, UK company head, sent to employees was quoted: “I am confident that the business model we are moving towards will allow us greater opportunity to bring our costs in line with our competitors so that we are able to compete more effectively and efficiently in the U.K. credit card market.” The credit card firm has promised to help those who have been made redundant to find new positions.Following the other job cuts which the company has planned, the credit card giant expects to have just 27,000… Read full this story
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