Capital One Cuts 1,139 Discover Jobs, Halves Riverwoods Workforce
Capital One has cut 1,139 jobs at Discover’s former $35bn-acquired Riverwoods campus, bringing total layoffs to 1,739 since the merger. These reductions have whittled the site’s 4,000-strong workforce by nearly 44% and left its 1.1 million sq ft office campus largely underused.
1. Layoff Details
Capital One has eliminated 1,139 positions at the Riverwoods campus in this round of cuts, adding to roughly 600 roles removed late last year for a total of 1,739 layoffs at the former Discover headquarters since the $35 billion deal closed two years ago.
2. Workforce Impact
These cuts reduce the Riverwoods headcount from about 4,000 to around 2,261, a 44% shrinkage, with more than 950 remote employees also affected as operations are consolidated under Capital One’s structure.
3. Campus Outlook
The 1.1 million square foot Riverwoods facility now stands underutilized, prompting speculation that Capital One may divest or repurpose the four-building office campus to optimize its real estate footprint post-merger.