Capital One is scheduled to lay off more than one thousand employees in the latest round of cuts at the former Discover Financial Services headquarters in the suburbs of Chicago.
In a second round of cuts since Capital One’s $35.3 billion acquisition of Discover Financial Services in May 2025, the financial group will lay off 1,139 employees across several Discover job titles.
“As part of our continued journey to integrate Discover with Capital One, we announced the difficult decision to eliminate some Discover associate roles across the organization,” a spokesperson for Capital One said in a statement sent to NBC Chicago. “Our focus right now is on fully supporting our colleagues impacted by this change.”
The news comes just a few months after hundreds of employees at the suburban facility were cut in late 2025.
Data on the layoffs provided by the Illinois Department of Commerce and Economic Opportunity varies slightly from what Capital One told NBC Chicago.
According to IDCEO, 1,075 employees at the company’s Riverwoods location will be let go in May, followed by 81 in June, three in July, one in September and one in October — a total of 1,161 workers.
Those cuts, added to previous layoffs, sum to a cumulative total of 1,748 jobs at the facility who will be eliminated by the end of 2026, according to IDCEO.
Capital One told NBC Chicago only 532 of those who are being laid off work at the suburban facility, 69 work remotely but in Illinois and 538 report to Riverwoods-based teams though they are not Illinois residents.
“We provided at least 60 days of notice to impacted employees and we are providing comprehensive career transition support, including enhanced severance, benefits, and outplacement resource,” the financial group’s spokesperson said.
Thanks to the Illinois Worker Adjustment and Retraining Notification Act, also called the WARN Act, employers are required to notify the state when they plan to lay off workers, according to the according to the IDCEO.
More than 5,000 employees across a variety of teams work out of the Riverwoods facility, according to the company’s website.
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