AvantCard to axe 37 jobs in Leitrim

AvantCard, the Spanish-based company that bought the credit card issuer MBNA in 2012, is to cut almost a quarter of its workforce at its call centre in Carrick-on-Shannon.

The company announced it intends to make approximately 37 roles redundant at the centre, which employs more than 160 staff. The Leitrim facility provides customer service and administration.

It is aiming to cut the majority of the roles through a voluntary redundancy scheme. It did not release any details of the package that would be on offer to workers. AvantCard has entered into a mandatory period of consultation with its staff over the exits.

“AvantCard remains committed to grow its business in Ireland and to continuing to service our customers’ current and future financial needs,” it said.

By dint of its acquisition of MBNA three years ago, AvantCard became one of the largest credit card companies in the Irish market, as the formerly Bank of America-owned business aggressively expanded its Irish customer base during the boom.

In June, it hiked interest rates for some of its credit card customers by almost a third, from 17.9 per cent to 22.9 per cent.

MARK PAUL