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CHARLOTTE, N.C. (AP) - Capital One Corp. said Wednesday it expects to eliminate about 2,000 jobs, or a little more than 6 percent of its work force, throughout the company as part of a cost-cutting program designed to save $700 million by 2009.
The McLean, Va.-based credit card and banking company expects to incur $300 million of pre-tax charges for the restructuring, including $90 million this quarter and $200 million in 2007.
These charges are expected to reduce after-tax profit by 15 cents per share this quarter, and 33 cents per share in 2007.
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