Capital One lays off more than 100 workers in Wilmington

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Thursday, February 4, 2016

WILMINGTON, Del. -- Capital One is laying off more than 100 workers as it eliminates its mortgage operations in Wilmington.

The bank announced that 109 employees were let go Wednesday.

Capital One Financial spokeswoman Julie Rakes told media outlets that the bank is simplifying and focusing on efficiency. She says a team of mortgage sales associates remains in Wilmington. Employees were given 60 days' notice and Rakes says they are also encouraged to apply for one of a "few hundred" open positions in the city.

Capital One had 2,500 workers in Wilmington at the end of 2015. The job cuts in Wilmington come days after the company reported eliminating about 2,100 positions around the country in 2015.