Capital One to cut Md. jobs Capital One Financial Corp. plans to cut 54 employees in Laurel starting in October, the McLean company told Maryland officials in a filing.
The cuts are part of downsizing in the bank’s information technology department. The layoffs will begin Oct. 2 and last until January 2012, according to the filing with the Maryland Department of Labor, Licensing and Regulation.
WRIT to sell off all industrial properties
Washington Real Estate Investment Trust will pull out of the industrial real estate segment, selling its entire industrial portfolio, with two office buildings, for $350 million.
The entire portfolio will be sold to a single buyer, which the Rockville company did not identify. The sales are being made under multiple contracts and are expected to close between September and November. It includes 16 industrial buildings and two office buildings totaling 3.1 million square feet.
Carnival to stay in Baltimore
Carnival Cruise Lines is set to sail from Baltimore into 2016.
Carnival, the world’s largest cruise liner, has signed a five-year contract extension with the Maryland Port Administration. Its current two-year deal was set to expire Aug. 31.
Carnival was the first cruise line to schedule year-round cruises from the South Locust Point cruise terminal in Baltimore in 2009. It carries about 115,000 passengers a year through Baltimore.
Iridium’s profits soar
Profits at Iridium Communications Inc. more than tripled last quarter as the satellite communications company added more subscribers to its network.
The McLean company reported net income of $11.2 million in the second quarter, from $3.2 million a year ago.
