McLean BizBuzz: Capital One Plans Layoffs, Local Companies Win Contracts.
McLean Business News
McLean-based Capital One, in a move to make its operations more efficient, announced last week that it will lay off 80 employees from its Bethesda office by early November. The Bethesda office joined Capital One when the McLean banking giant acquired Chevy Chase bank in 2009. The Bethesda location was primarily a home mortgage office, according to a story in Maryland’s Gazette.net.
Capital One planned the closure in order to “consolidate its existing home loan sites,” according to Julie Rakes, a spokeswoman for Capital One. Rakes said that employees will be given “at least 90 days’ notice of losing their jobs, plus severance packages and help finding another position.”
Contracts & Awards
SpydrSafe Mobile Security, based in McLean, was presented with a Commonwealth Research Commercialization Fund (CRCF) award. It was one of twenty-two such awards by CRCF, totaling $3.1 million.
The award was presented to SpydrSafe “to incentivize commercialization in Virginia of a product or service related to cyber security,” according to a press release issued by SpydrSafe.
The Center for Innovative Technology (CIT) conducts the CRCF award process. “Innovation is strong in Virginia,” CIT President and CEO said in the press release.” And investing in these ideas will help the Commonwealth strengthen its economic base in an increasingly competitive global economy.”
BAE, Booz Allen Hamilton, SAIC. Three McLean companies have been awarded multi-year contracts by the Defense Intelligence Agency Solutions for Intelligence Analysis II.
BAE, Booz Allen Hamilton, and SAIC along with several other area-companies, were selected based on their ability to provide intelligence support and analysis. The total contact ceiling stands at a possible $5.6 billion over a maximum of five years.
Under the contract, the companies will provide support services and intelligence analysis for “war fighters, defense planners, and defense and national security policy makers,” according to a press release issued by AFCEA SIGNAL Scape.
Appointments and Promotions. No appointments or promotions to report in McLean this week. As always, if you have please let us know through a comment to this story.