Capital One Bank is set to slash jobs across Louisiana, as part of a strategy to reduce costs and simplify operations.

As part of this move, the lender will cut the assistant branch manager position at all its branches across the state, and also eliminate jobs supporting its discount brokerage business in New Orleans, the bank spokesman Steven Thorpe confirmed.

The layoffs in the discount brokerage cuts will impact employees in the investment operations, though the local sales team will be retained. However, the precise number of layoffs has not been specified as of now.

The affected employees will receive a 60-day notice and will also be encouraged to apply for other positions within the bank.

According to Federal Deposit Insurance records, Capital One Bank comprises 159 branches in Louisiana.