Capital One to eliminate 1,139 jobs connected with former Discover facility in Riverwoods

Fallout from the merger of Capital One and Discover Financial services continues as 1,139 employees who either work at or report to the office in Riverwoods are losing their jobs.

The total includes 532 employees who work at the former Discover Financial facility, 2500 Lake-Cook Road. Sixty-nine employees are Illinois residents who work remotely and 538 are out-of-state residents who work remotely but ultimately report to Riverwoods-based teams, according to a Capital One spokesperson.

Employees were notified Feb. 23. The first separations are expected to begin May 4 and the last on or about Oct. 1. The action covers 302 different 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 company said in a statement.

Front-line “customer facing” employees were not impacted by the action, according to the spokesperson.

“Our focus right now is on fully supporting our colleagues impacted by this change. We provided at least 60 days notice to impacted employees and we are providing comprehensive career transition support, including enhanced severance, benefits, and outplacement resources,” the statement continued.

The cuts are part of ongoing job-related actions by Capital One since the initial Illinois Worker Adjustment and Retraining Notification (WARN) in August 2025. The act requires employers with 75 or more full-time employees to give 60 days advance notice of plant closures or mass layoffs.

At the time, the cumulatively scheduled number of layoffs was listed at 1,748 with the first layoff date last October. The entire location isn’t closing and other business operations will continue there, according to the company.

A $35 billion Capital One/Discover merger was announced in February 2024. Discover is now a division of Capital One.

The deal joined two of the largest credit card companies that aren’t banks first, like JPMorgan Chase and Citigroup.