“The decision wasn’t easy as we recognize the impact that this has on our fellow associates and are fully committed to helping them through this change,” the company said. “Impacted associates have been provided at least 60-days’ notice and are encouraged to post for open positions across our various locations.”
Employees who are not hired for another job at Capital One will be eligible for severance packages including retraining assistance and outplacement services, the company said.
Capital One employs about 13,000 people in the Richmond region, including at its West Creek office park, at offices in Henrico County and at a data center in Chesterfield County. It also has two Capital One Cafe banking locations.
Separately, Capital One said it is planning to hire about 3,000 people this year for various technology jobs such as software engineering.
Those hires will happen in the Richmond region as well as at other Capital One locations around the nation, said Mindy Ferguson, Capital One’s managing vice president for technology. It will include jobs that are part-time remote and part-time at an office.
“It goes back to the work we have been doing over the past decade,” Ferguson said. “Technology has been so central to our corporate strategy and the direction that Capital One has been going. The future means being a really great tech company that understands how to handle risk like a bank, and that is quite an interesting skill set.”