Neteller Begins Layoffs

After having to shutdown the bulk of its business by ceasing to serve U.S. customers, online payment processor, Neteller, has begun downsizing its workforce.

In a statement released today, the company said that it will focus on its Calgary operations, as that location was centered on its U.S. customer base. A total of 220 employees will be let go, spanning many areas, including call center, security, IT, and marketing. Neteller said approximately half of the layoffs will be through its “voluntary redundancy programme,” which most likely means that they asked for volunteers to willingly leave the company, and then gave those people more generous severance packages.

Another 30 UK employees will be let go as the result of the merging of the company’s Gatwick and Cambridge offices.

Originally published 3:06 PM Friday, February 16, 2007