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Capital One Home Loans to close area site; 320 will lose jobs.

Capital One Home Loans is closing its Overland Park lending center in Kansas, a move that will displace 320 employees, most of them in February.

The workers will receive pay and benefits for two months, starting in December, while the company helps them look for new jobs.

Spokeswoman Julie Rakes said the company notified employees Thursday that their work would move to the company’s center in Plano, Texas.

Capital One has operated in Overland Park since acquiring another lender’s operation there in 2005. It had about 200 employees at the time.

Most of the Overland Park employees will stop working in December but will continue to receive pay and benefits through early February. In that time, they will be involved in Capital One’s career-transition program, which will help them prepare for and find new jobs. The program includes career seminars, one-on-one counseling, retraining assistance and other help.

“During the following 60-day redeployment, they will devote 100 percent of their time to their job search while remaining employed by the company,” Capital One’s announcement said.

The remaining employees will continue in their regular work until sometime next year, then enter the career-transition program before leaving the company in June.

The announcement also said full-time employees would be eligible for severance packages.

Read the complete story at kansascity.com

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