Spanish-based credit card provider AvantCard is to cut nearly a quarter of its Irish workforce with 37 staff to be let go from its office in Carrick-on-Shannon, Co Leitrim.
Since acquiring MBNA three years ago, AvantCard has been one of the largest credit card providers in the country, but now it appears that it is struggling to entice new customers in the post-boom era.
The 170 staff employed at the company’s Leitrim office have largely been in customer service and administration roles and, according to The Irish Times, the company plans to begin approaching staff about a voluntary redundancy scheme.
However, the terms of the redundancy have not been made available as of yet.
In a statement about the job losses, the company said: “Like many other employers, we regularly review our business to ensure that it is right for our customers, reflecting any changes in customer behaviour and the competitive marketplace.
“Following a detailed review, it is with regret that we confirm that we are planning to reduce our workforce across our business areas.”
However, AvantCard has said that it has no plans on leaving Ireland and will aim to continue growing its business in the coming years.
Credit cards image via Shutterstock