Summary
Capital One is laying off 1,139 workers from its Riverwoods, Illinois office as part of its integration with Discover. These layoffs come after the company bought Discover in 2024 and laid off 600 workers last year. Most of the affected employees will leave in phases by May 2024.
Key Facts
- Capital One is laying off 1,139 employees from its Riverwoods, Illinois location.
- This follows Capital One's acquisition of Discover for $35 billion, completed in May 2024.
- Layoffs include 532 at Riverwoods, 69 remote workers from Illinois, and 538 remote workers outside Illinois.
- The layoffs will not affect front-line, customer-facing jobs.
- Employees were informed of the layoffs on February 23, 2024.
- Capitol One filed a formal notice about the layoffs with Illinois authorities, as required by law.
- The layoffs will occur in phases, with most employees leaving by May 2024.
