Capital One Financial filed a Workers Adjustment and Retraining Notification with the New York State Department of Labor on November 8. The notice indicates the company will lay off 26 employees at its Melville, New York facility.
Capital One is headquartered in McLean, Virginia. The Fortune 500 Company offers a broad array of financial services and products to commercial clients and small businesses.
The affected employees have no banking rights and are expected to separate on February 5, 2018 and on or about March 7, 2018. Capital one will close its Originations Operating Unit at 275 Broadhollow Road on March 7, 2018.
The reason for dislocation cited in the filing was due to “Capital One exiting Originations in Mortgage and Home Equity.”