NCO Financial Systems Inc. revealed in a filing late Thursday with the Virginia Employment Commission that it plans to lay off 368 employees permanently next year at a call center in Hampton, Va. The cutbacks will not take effect until December 2011.
NCO Financial's parent company is NCO Group, based in Horsham, Pa. NCO officials at press time had not responded to requests seeking additional information. Collections & Credit Risk will update this story when more information is available.
According to Collection & Credit Risk's 2009 industry rankings, NCO Group is the largest collection agency based on revenue, reporting nearly $1.5 billion a year earlier. At that time of survey, the company was the No. 10 debt buyer with $18.4 million in revenue from purchased debt.