MasterCard to Outsource Some Services from UK to Bulgaria, the Philippines

MasterCard has said it will outsource part of its business from its office in Peterborough, in the UK to Bulgaria and the Philippines.

UK-based Peterborough Telegraph quoted a company spokesperson as saying that "?in alignment with other MasterCard business functions we are outsourcing an element of our business to both Bulgaria and the Philippines."

The spokesperson didn't disclose how many jobs will be affected but the newspaper quoted a MasterCard employee in Peterborough as saying he'd been told the outsourcing move will result in the loss of jobs for 300 permanent employees, with up to another 300 employees subcontracted to MasterCard also to be made redundant.

The MasterCard spokesperson said the figures were "absolutely not accurate'', according to the article in the Peterborough Telegraph.