SAN FRANCISCO, Jan. 20 /PRNewswire-FirstCall/ -- Providian Financial
Corporation (NYSE: PVN) announced today that it is consolidating collections
activity into its Austin and El Paso, Texas sites and, as a result, is closing
its Louisville, Kentucky site effective today.
The approximately 300 employees affected by today's announcement were
given transition packages, including job placement services. In addition,
Providian will sponsor a job fair with local employers on February 12, 2004.
"This was a difficult decision," said Tom Warburton, executive vice
president of Collections for Providian. "But with significantly reduced
delinquency volume and improved operational efficiencies we require less
infrastructure."
About Providian
San Francisco-based Providian Financial (http://www.providian.com) is a leading
provider of credit cards to mainstream American customers throughout the U.S.
By combining experience, analysis and technology, Providian seeks to build
long-lasting relationships with its customers by providing products and
services that meet their evolving financial needs.
SOURCE Providian Financial Corporation
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Related links:
http://www.providian.com
CONTACT:
media, Alan Elias, +1-415-278-4189, or Beth
Haiken, +1-415-278-4889, or investors, Jack Carsky,
+1-415-278-4977, all of Providian
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