Capital One Financial Corp.,
a provider of financial services headquartered in McLean,
eliminated 260 jobs in Richmond and 20 in McLean, all
in its credit card operations. The restructuring was
undertaken after banking became the company’s
focus following its purchase of North Fork Bank of
Long Island, N.Y. ( Richmond
Times-Dispatch)
Circuit City Stores Inc., a Richmond-based consumer
electronics retailer, cut about 850 jobs, including 200
at its headquarters, as the company realigned the management
structure of its stores. ( Richmond Times-Dispatch)
Philip Morris International will close a plant
in Dinwiddie County which employs 137 workers to blend
and process tobacco for overseas markets. The action
came as the company moves its production operations closer
to end markets. Philip Morris USA, based in Richmond
, will not be affected. ( Richmond Times-Dispatch)
Wachovia Securities, a Richmond-based securities
firm, will merge into A.G. Edwards after its parent company,
Wachovia Corp. of Charlotte, N.C. , bought Edwards for
$6.8 billion. Daniel J. Ludeman, president and
CEO of Wachovia Securities, will retain those titles
in the combined operation, which will be based in St.
Louis. ( Richmond Times-Dispatch)
