Capital One integration cuts

Capital One is cutting Discover application-engineering jobs as it folds the card company into its own systems after closing the merger last year. (paymentweek.com) A March 3 filing with Illinois officials said 1,139 jobs at the former Discover campus in Riverwoods, Illinois, are being eliminated in this round, with 1,075 departures set for May and another 81 for June 1. Banking Dive reported those notices push scheduled layoffs tied to the site to 1,748 between October 2025 and October 2026. (bankingdive.com) The steepest cuts in the latest filing hit software roles: 124 application engineers, 54 senior associate application engineers, and 38 principal application engineers, according to Payments Dive. Those jobs sit inside the teams that build and maintain banking software, from older internal systems to cloud-based tools. (paymentsdive.com) Capital One completed its acquisition of Discover on May 18, 2025, after winning final approval from the Federal Reserve and the Office of the Comptroller of the Currency a month earlier. The deal combined two of the biggest United States credit card lenders and gave Capital One control of Discover’s payment network. (capitalone.com) When Capital One announced the acquisition in February 2024, it said the combined company would use Discover’s network to route more debit and selected credit card volume itself instead of relying as heavily on Visa and Mastercard. Capital One projected $2.7 billion in pretax synergies in 2027, including $1.2 billion from network synergies. (capitalone.com) The Riverwoods cuts follow earlier reductions at Discover after the merger closed. Payments Dive reported in September 2025 that Capital One said it would cut nearly 400 Discover employees between November 2025 and March 2026, after separate reductions tied to Discover’s home-equity business. (paymentsdive.com) Local reporting in the Chicago area said the latest notice was sent by Paul Townsend, identified as Capital One’s managing vice president for Discover integration leadership, to Riverwoods officials and Illinois labor agencies. The notice covered the former Discover headquarters at 2500 Lake Cook Road. (lakemchenryscanner.com) The filings show where the merger is now: past the regulatory fight and deep into system consolidation. For Discover engineers in Riverwoods, the next dates that matter are the first job cuts beginning in May. (federalreserve.gov)