Richmond rejoiced upon hearing that Capital One would bring 700 jobs to a consolidated operations center in Innsbrook. The company also announced it would add 300 jobs throughout the state by the end of 2011.
The city of New Orleans isn’t so lucky. The McLean-based bank has notified 100 workers at an office there that their positions are being eliminated as a result of the moves in Richmond, according to an article in the Times-Picayune:
All of the positions that will be eliminated are based at the bank’s Place St. Charles office in New Orleans, which currently employs 630 people. The cuts will not impact staffing at Capital One branches.
“It was a difficult and hard decision,” said Thorpe.
The job cuts, which are being made in fraud operations, risk and supplier management, fraud and investigation, consumer deposit operations and in the wire room, will allow the bank to standardize and simplify its operations, Thorpe said.
The affected employees will be eligible to receive a severance package including retraining assistance and outplacement services.