Editorial: Discover's South Side call center has survived Capital One's cuts so far. What about after a head tax?
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The job hits just keep on coming in the northern suburbs from Capital One's acquisition last year of credit card issuer Discover Financial Services. Capital One said earlier this week it's laying off 243 more workers at the former Riverwoods headquarters of Discover. Including those new reductions, over the past 15 months Capital One has cut nearly 1,300 jobs in Illinois, more than a fifth of Discover's workforce here before the buyout, according to Crain's Chicago Business. While the good-paying white-collar jobs in the 'burbs are getting slashed, the substantial workforce Capital One inherited from Discover in the city of Chicago largely has been spared. Most prominent has been the call center Discover opened with fanfare in Chatham on the city's South Side in part of an abandoned Target store. Capital One insisted when it announced the Discover deal in February 2024 that it would preserve the Chatham operation, which had been opened just two years before. The project represented one of corporate Chicago's most significant investments in Chicago's South Side in decades. Discover's then-CEO Roger Hochschild framed the move at the time as "sparking repair (for systemic racism) in our own hometown through infrastructure investment, jobs and philanthropic support." Discover prioritized hiring from the neighborhood and surrounding environs to fill the 1,000 jobs it was creating...
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