Hundreds of mortgage employees in North Texas are being laid off by Capital One Financial Corp. The job cuts come less than a year after over 700 people were let go from the same location.
Back in November 2017, the McLean, Virginia-based company disclosed plans to close it mortgage business. The decision impacted more than 900 people, including 750 in Plano, Texas.
Capital One President of Financial Services Sanjiv Yajnik at the time blamed the division’s “structurally disadvantaged position, given the challenging rate environment and marketplace.”
A notice filed with the Texas Workforce Commission indicates more Plano layoffs are ahead. Such notices are required by the Worker Adjustment and Retraining Notification Act 60 days ahead of the planned layoff of 50 or more workers.
According to the WARN filing, 286 employees are being laid off in the Dallas suburb.
The layoffs will take place on Oct. 1.
A Capital One spokeswoman ignored a request for a statement.
