Capital One is scheduled to lay off hundreds of employees at its Discover Financial Services headquarters in a northern Chicago suburb starting in November.

According to the Illinois Department of Commerce and Economic Opportunity, the financial group will cut nearly 400 employees beginning Nov. 17.

The first round will include 382 employees from the Riverwoods location while a second round of 10 additional employees will take place Dec. 19.

The company first announced planned layoffs in August, saying 215 workers would be fired beginning Oct. 17 and continuing through May 2026 due to a "financial restructure."

The Capital One cuts come as the company and Discover merge operations, according to officials.

The two announced the merger in May saying it "brings together two innovative,

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