NextCard lays off 170 staff

NextCard lays off 170 staff

Online credit card outfit NextCard is making 170 of its staff redundant as it continues to look for a buyer for its operations.

The cuts, affecting 19 percent of the workforce, come from all areas of operations, the company says in a brief statement.

Five-year old NextCard recently retained Goldman Sachs to pursue a sale to a larger financial firm after its last quarterly report revealed a widening of losses against deteriorating market conditions.

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