Five years after Capital One took over North Fork Bank, the banking giant is now closing the doors on the Mattituck back office operation on Route 25 that has been North Fork Bank’s headquarters.
“This was a very difficult decision and one that our banking leaders do not take lightly. This is not a reflection of the associates’ performance,” said Capital One spokesman Stephen Schoof in an email Wednesday morning. “All associates are being offered roles in Melville or Richmond and the impacted associates may also post for other Capital One roles for which they are qualified. If they decide to accept these roles, they will be eligible for a sign-on bonus (if no relocation is needed) or an extensive relocation package.”
Mr. Schoof said that the bulk of the 135 positions held by workers in Mattituck would be eliminated Dec. 4, with a handful of associates staying on until the second quarter of 2012.
He added that no decision has yet been made on what Capital One will do with its Mattituck real estate.
At the time of the Capital One takeover in 2006, North Fork Bank president John Kanas said that none of the bank’s then-350 Mattituck employees would lose their jobs, citing little duplication between the work done in Mattituck and Capital One’s existing operations. But there has long been speculation that Mattituck’s back office operations wouldn’t last forever. Last year the bank laid off 29 people from the Mattituck building, according to its filings with the New York State Labor Department, though bank representatives did not comment on the layoffs at that time.
This time they’re being more communicative.
“Our goal in notifying the impacted associates well in advance is to give them ample opportunity to post for other jobs within Capital One or to work with our outplacement services partner to prepare to seek other employment,” said Mr. Schoof. “Capital One is also opening an on-site career development center through which associates can take advantage of career counseling and job search resources.
“We will provide associates with paid time off to use these services. We realize that the impacts from this decision will be felt well beyond our organization, as associates and their families deal with the news.”