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(McLean, VA)  —  The nation’s fifth-largest bank is cutting more jobs.  In its latest reorganization, McLean-based Capital One Bank has announced that nearly 500 assistant branch managers are being let go, including 166 in the Washington, DC area.  They can accept severance packages or apply for other company jobs.  Analyst Scott Valentin of FBR Capital Markets tells the “Washington Post” the cost-cutting may be related to Capital One’s recent nine-billion-dollar acquisition of online bank ING Direct.

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