Hundreds of UK jobs at Visa could be moved after Brexit

 
William Turvill
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Visa employs more than 1,000 people in London (Source: Getty)

Visa could be pushed into relocating hundreds of UK jobs to other European countries following last week’s Brexit vote.

The move could be forced by an agreement in the recent £17.5bn takeover of Visa Europe by its sister company in the US.

Read more: Britons started looking for jobs abroad as soon as the Brexit vote came out

Sky News first reported the deal included a condition that data from card transactions should not leave Europe.

Visa is understood to employ more than 1,000 people in London, with hundreds involved in data centre-related work.

No decision on job relocations is likely to be made before the terms of the UK’s future trading arrangements with the EU are close to being finalised.

Read more: How big banks are reacting to Brexit: Thousands of UK jobs feared at risk

A Visa spokesman said: "The process and timing for the UK leaving Europe remains unclear.

"While we continue to monitor the situation carefully, it is premature to speculate on whether possible changes to the location of our data centres would make sense or be required."

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