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Capital One restructuring leads to job cuts in the Richmond area

Posted at 5:38 PM, Sep 28, 2017
and last updated 2017-09-28 17:41:29-04

RICHMOND, Va. — Capital One confirms a restructuring in their US Card business division will lead to job cuts nationwide and at locations in the Richmond area.

The company would not confirm how many local jobs will be affected, but did say that some associates will take on new responsibilities, while some other positions will be eliminated. They said the move will create a more nimble organization.

“Any change that impacts our associates is difficult, and this decision wasn’t taken lightly,” said a Capital One spokesperson. “We have a talented workforce and are fully committed to helping them through this change.”

The company said they announced to plans to their employees on Wednesday, September 27.

“Impacted associates have been given at least 60-days of notice and are encouraged to post for open positions across our various locations,” said the spokesperson. “We currently have hundreds of open roles across our network.”

The spokesperson said associates, who are not hired into another Capital One role, will be eligible to receive a severance package.

Capital One is the largest private employer in the Richmond area with more than 11,000 employees.