Around 200 Capital One employees in the greater Richmond region will see their positions eliminated in the next 60 to 90 days.
Capital One notified the affected employees at the Innsbrook and West Creek offices of the decision Wednesday. The eliminated positions are mainly project managers, analysts and operations support, according to Capital One. No positions are being eliminated at the call center in Chester.
The affected employees will be given the opportunity to find another job in the company. There are currently 470 openings at Capital One in greater Richmond. Those openings are mainly in IT, Human Resources and call centers.
"Capital One realizes that our industry has changed, and efficiency and cost management are integral to how we run the business," the company said in a statement. "It's a focus in all of our businesses and in every budget cycle."
Capital One will help the employees with career coaching, resume writing, interview skills development and other training opportunities. If they don't find another job in the company, they will receive a severance package.
"As you can imagine, these decisions were made very thoughtfully and carefully given their impact on our associates and their families," wrote a company spokesperson. 'We understand it can be very difficult for people who lose their positions."
Capital One is the largest private employer in Greater Richmond with nearly 11,000 employees.
This is a developing story from NBC12. We'll have updates coming up on 12News at 5:00.
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