Capital One announced a reduction of 100 jobs at its Wilmington operations.
Capital One spokeswoman Julie Rakes stated that the financial services company is “transforming our mortgage operations with a focus on efficiency and simplifying our organization. As a result, we notified approximately 100 associates today that we are eliminating our mortgage operations in Wilmington.”
“It’s a difficult decision and we’re committed to helping impacted associates through the transition,” Rakes stated.
According to Rakes, associates have been given at least 60 days’ notice and are encouraged to apply for other roles for which they are qualified.
Capital One will operate an onsite Career Development Center that will provide individuals with resume writing, interview skills, coaching, etc.
“If they choose not to pursue an internal Capital One role, associates will be eligible to receive a severance package, including retraining assistance and outplacement services,” Rakes stated.
Rakes noted that hiring continues in other areas in Wilmington. “We currently have a couple of hundred positions open in Wilmington and hundreds more across the Capital One footprint,” she added.
Capital One has a large “fintech” (financial technology) group in Wilmington that has been in a hiring mode.
A team of mortgage sales associates remains in Wilmington.
“Wilmington continues to provide Capital One with an experienced and an incredibly talented workforce and we look forward to remaining an active part of the community,” Rakes concluded.
Capital One employs more than 2,000 in Wilmington. The company came to Delaware with the acquisition of INGDirect, an online bank that offered checking and savings accounts, and variable rate mortgages. The bank is now known As Capital One 360.
