CHESTER-BASED Bank of America has announced up to 160 jobs are at risk.
Bank bosses say the restructure is necessary to meet the changing needs of the credit card business which still employs 4,000 at Chester Business Park.
About 80 affected employees are shared between the credit department in charge of setting the credit limit for customers and customer assistance who help people manage their arrears.
Another 80 are from the marketing department although 46 new posts are being created in marketing for which they will be eligible to apply.
A spokesman for Bank of America Europe Card Services said: "We are no different to any other major employer in that we regularly review our business structures to make sure they are right for our customers and our business priorities.
"Following a detailed review of our operations, we have recently announced that we may see a reduction of around 160 full time equivalent positions largely in three areas of our business in Chester; credit, customer assistance and marketing; and we are currently consulting with associates in these three areas.
"We will be creating 46 new jobs as part of a restructured marketing division, and will welcome applications from those associates who may be impacted by these changes.
"We remain committed to Chester and North West; we are one of the region’s largest employers with around 4,000 associates based at our UK headquarters in the city and we are continuing to recruit talent in many other areas of our business."
Bank of America owns MBNA which is the largest credit card lender in Europe.