US credit card firm Capital One is axing 750 jobs at its operations in the UK and shifting most of the roles to offshore locations.
According to press reports, the jobs to be cut are thought to be mainly call centre, account servicing and support roles at Capital One's operations in Nottingham.
Reports say that "most" of the posts will be outsourced to India and other countries.
The 750 jobs represent about 40% of Capital One's 2000 roles in the UK. The job cuts are among 2000 that Capital one is axing across its global operations as part of a restructuring launched last year.
Last week HSBC said it was shutting down a payments processing centre in Livingstone, Scotland, leading to the loss of 164 jobs.