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Capital One annouces 217 layoffs

Tigard’s once largest employer has announced it is cutting more than 200 jobs starting next year.

Capital One took over the HSBC call center on Southwest 69th Avenue in May, and announced last week that it would lay off 217 people from the Tigard center starting Jan. 2.

The layoffs come from the site’s collections division, said Capital One spokeswoman Julie Rakes.

Until earlier this year, the site was owned and operated by British bank HSBC. Capital One took over the site in May after acquiring HSBC’s American credit card arm.

The site was one of the British bank’s largest service centers and one of the city’s biggest employers.

A notice filed Sept. 26 with the Oregon Department of Community Colleges and Workforce Development announced that the financial company would be moving the collections division jobs to other locations across the country.

Instead, Rakes said, the Tigard site will be expanding its fraud department, and each of the 217 laid-off employees will have an opportunity to interview for a position.

“We have more positions opening in the fraud department than the number in the collections group where we have had to notify,” she said.

Rakes said the layoffs are part of a transition to combine Capital One with the recently acquired HSBC operations.

“We are shifting the organization to combine HSBC with Capital One in a way that makes sense,” she said.

It’s a dramatic change for the site, which once employed nearly 1,000 people. Today about 300 people are employed at the site.

This is the second time this year that the company has announced large layoffs at the call center.Shortly after taking over the site in May, Capital One announced it would cut 79 jobs from the Tigard office, including doing away with the site’s marketing department.

Capital One later revised that number to 49 layoffs. Those layoffs began last month.

Rakes said both sets of layoffs were business decisions and changes that were needed to “move the company closer to its long-term organizational design.”

“We have great associates in Tigard, and hopefully folks in that group are interested in moving over to this other department,” Rakes said.

Employees who don’t transfer to the fraud department are able to receive severance and benefits, Rakes said. They are also given four hours per week to work with an on-site career development center to work on resume writing, interview skills and coaching.

“This is something that the we at the company don’t take lightly,” Rakes said. “The impact that this has on our associates, even as we make these different positions available, is great. That’s why we are working closely with folks as they transition to these new roles.”

The Capital One center is located at 12447 S.W. 69th Ave.




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