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Capital One announces over 100 layoffs in Wilmingon

Capital One is laying off more than 100 Wilmington employees.

The move comes a week after the CEO of the nation’s eighth largest bank announced workforce reduction plans

Capital One officials say it is eliminating its mortgage operations in Delaware’s largest city.

The Wilmington employees were laid off Wednesday will reportedly be given the opportunity to apply for other open positions locally or receive severance packages and retraining assistance.

Capital One launched in 1994. Since then, the Virginia based company has grown to include 65 million customer accounts and annual revenue of $22 billion.

The bank employed about 45,000 workers across the country in 2015, a 4.5 percent reduction from the previous year.