Redundancies expected at MasterCard in Peterborough as services go to Bulgaria and the Philippines

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Redundancies are on the cards at MasterCard’s office in Peterborough with some services being outsourced to Bulgaria and the Philippines.

MasterCard has confirmed it is consulting with staff at its office in Hampton, but says it does not know how many people will be affected.

An employee at MasterCard in Peterborough, who wished to be anonymous, said he had been told that 300 permanent members of staff will be made redundant, with up to another 300 employees who are subcontracted to the firm also to lose their jobs.

These figures were disputed by MasterCard with a spokesperson saying they were “absolutely not accurate’’.

A spokesperson for MasterCard said: “MasterCard is a dynamic and fast moving global business, and alongside our focus on building the world’s leading secure digital payments network and solutions we also look to drive organizational efficiency across our business.

“Today, we have commenced a consultation period with some of our MasterCard Prepaid Management Services employees based in Peterborough.

“This decision is a result of ongoing evaluation of operations and our subsequent decision to outsource some services to a third-party vendor.

“We are committed to working with our employees to ensure we follow the correct process for consultation.

“As this is a consultation process we do not have a final number of employees who will be affected by this process but can confirm that the number given to the Peterborough Telegraph is absolutely not accurate.”

The spokesperson added: “MasterCard intends to retain the majority of our workforce and our operations in Peterborough but in alignment with other MasterCard business functions we are outsourcing an element of our business to both Bulgaria and the Philippines.”