Capital One Is Closing Its Seattle Office

Five Washington companies have announced a total of 829 layoffs so far in June, federal filings show
Updated: Thu, 09/05/2019 - 14:45
 
 
  • Five Washington companies have announced a total of 829 layoffs so far in June, federal filings show

Financial-services heavyweight Capital One is officially shuttering its Seattle office, resulting in 136 employees being laid off permanently starting Sept. 1, according to a notice the company filed with the state under the federal WARN Act.

News of the McClean, Virginia-based bank-holding company’s plans to close its Seattle office in South Lake Union was initially reported in the media late last month. The company said at the time that it has chosen to refocus its “resources and no longer pursue the development of certain investing digital-guidance tools” being pursued by the Seattle office, according to GeekWire.

The lender’s two area Capital One Cafes, which are coffee shops that offer limited banking and money-coaching services, are expected to remain open, GeekWire reported.

Other layoffs in Washington announced this month via WARN Act notices include Whole Foods Market in Vancouver, 121 workers; Kindred Hospital in Seattle, 166 workers; Nordstrom in Seattle, 167 workers; and Ostrom’s Mushroom Farms in Olympia, 239 workers.

The WARN Act requires employers with 100 or more workers to notify workers 60 days prior to any closure or layoffs. Companies also must provide written notice to the Washington’s Employment Security Department and the top elected official in the community where the layoff or closure is occurring.

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