More than 150 people will lose their jobs at Cabela's former credit card operation in Lincoln.
Capital One Financial notified the state last week of its plans to lay off 153 employees within two months. A notice is required under the Worker Adjustment and Retraining Notification Act whenever a company plans to lay off a large number of workers.
WARN offers protection to workers by requiring employers to provide notice 60 days in advance of covered mass layoffs.
As part of Cabela's $5 billion sale to rival outdoor outfitter Bass Pro Shops last year, Cabela's subsidiary World's Foremost Bank was sold to Synovus Financial, which then sold the Cabela's credit card portfolio to Capital One.
The transitions are expected to take place over the course of several months, starting in early December and continuing through March, 2019.
"Over the past several months, we have met with our Lincoln associates to share our vision for the future of the site.
Following the recent conversion of Cabela’s CLUB to Capital One, Lincoln remains a customer servicing site focused primarily on caring for Cabela’s customers. This team has deep experience and expertise supporting these customers’ day-to-day needs.
With a focus on core servicing, some specialized responsibilities are transitioning to other sites within our footprint where we have similar, well-established teams. This includes groups focused on fraud, recoveries, some back-office service positions and horizontal support roles.
Associates currently in these specialized service roles were offered the opportunity to transition into core servicing roles following conversion.
Ultimately, approximately 150 associates were impacted by this change. We’re fully committed to helping our associates through this change and are providing extensive resources and transition assistance.
Impacted Associates were given at least 60 days of notice and are able to post for open positions throughout our locations. Those associates not hired into another internal Capital One role are eligible to receive a severance package, including retraining assistance and outplacement services. We are also offering extensive resources and assistance to provide individuals with support in resume writing, interview skills, coaching, etc."