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More than 150 to lose jobs at former Cabela's operation
Oct 09

Editors Note APNewsNow.

LINCOLN, Neb. (AP) _ Officials say 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

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.

Capital One said the remaining Lincoln employees will focus on serving customers of the Cabela's Club credit card.

By The Associated Press, Copyright 2019