Capital One, an American credit card provider, is reducing its workforce in the United Kingdom by 40 percent.

On Tuesday, Capital One Financial Corporation announced it would eliminate as many as 750 jobs in its UK division in Nottingham as the credit card giant reviews its operations in Europe. Its Nottingham division has been one of the major private sector employers since 1998.

The job cuts will occur largely at accounting servicing, support roles and call centers. Most of these jobs are planned to be outsourced to other countries such as India.

Capital One has been enduring a rise in bad debt. Its profit margins have been eroded by new restrictions regarding the penalty charges applied to British customers.

In recent years, the credit card market has been very competitive and this is predicted to go on in the future. After reading a somehow bad news, don't fret, one must learn the Seven ways to deal with getting fired and how to survive unemployment.