Capital One Plans to Fire 26 in New York Operations Center
Stock Chart for Capital One Financial Corp (COF)
Capital One Financial Corp. (COF), the bank that gets more than half of its revenue from credit-card lending, plans to dismiss 26 employees later this year at a facility in Long Island, New York.
The cuts are expected to occur in the fourth quarter at an office in Brentwood, about 45 miles east of Manhattan, the McLean, Virginia-based bank said today in a notice with the state Labor Department. The dismissals are tied to a decision to outsource the firm’s “cash vault” function in New York and New Jersey, Julie Rakes, a company spokeswoman, said in an e-mail.
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