Capital One Financial is cutting more jobs at Discover’s Chicago-area headquarters, the bank told Illinois this week.
A notification on a state layoff webpage indicates 1,075 people will be let go in May, and another 81 on June 1. The company last notified the state of job cuts on Tuesday.
Those figures contribute to a total of 1,748 scheduled layoffs the company has informed Illinois of, occurring between October 2025 and this October, according to the state website.
On Thursday, a Capital One spokesperson said role eliminations cut across a number of 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,” the spokesperson said in an email. “Our focus right now is on fully supporting our colleagues impacted by this change. 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 resources.”
Last September, McLean, Virginia-based Capital One informed Illinois of forthcoming layoffs occurring in phases, with some scheduled for this month. Those cuts affected Discover employees holding 215 different job titles. Some worked at the Riverwoods, Illinois, location, while others worked remotely.
The CapOne layoffs are not the only job cuts to come to light this week in the banking sphere. Morgan Stanley is cutting about 2,500 workers, or about 3% of its workforce, The Wall Street Journal reported Wednesday. Bank of America, Citi and Wells Fargo have all projected lower headcounts this year.
