From Bloomberg:
- Capital One will lay off 1,139 employees after acquiring Discover Financial Services in 2024.
- About half of the layoffs affect Illinois workers, mainly at Discover’s Riverwoods headquarters.
- Additional employees work remotely but report to teams based in Riverwoods.
- None of the layoffs involve front-line customer-facing positions.
- Capital One has cut 1,748 jobs total since late 2025.
- Layoffs are part of integrating Discover into Capital One after the $35 billion merger.
- Most workers leave by May 4, with final departures scheduled by Oct. 2, and will receive severance and career support.