Location: Riverwoods, Illinois, USA.
Based on news reporting.
Discover Financial Services has announced layoffs affecting approximately 500 employees as part of a restructuring effort following a recent merger. The layoffs are set to take place at the company's Riverwoods, Illinois headquarters. This decision comes amid broader industry trends of consolidation and cost-cutting measures, reflecting the challenges faced by financial services companies in a competitive market. The company aims to streamline operations and improve efficiency, which has led to this significant workforce reduction. Discover's management has indicated that these changes are necessary to adapt to evolving market conditions and enhance overall performance.
Discover Financial Services cut 500 jobs as of October 1, 2023.
That is roughly 2.4% of the 21,100 people Discover Financial Services employs.
LayoffTalk has tracked 3 layoff events at Discover Financial Services since October 2023, affecting a combined 1,000 employees.
Anonymous by default. Be kind — people reading this may be going through it right now.
Discover Financial Services cut 500 jobs on October 1, 2023. What did this look like from the inside — which teams, how much notice, what severance was offered? You can post anonymously below.
Share your story anonymously — it helps others reading this feel less alone.
Share your story →Recent tracked events at this company.