All the major banks have had significant layoffs in the last several months. I'm thinking we might be the next on the list. And no, for those who want to claim we're a technology company, we're still a bank first and foremost. And banks are currently in trouble. I'll be shocked if we don't hear about cuts in the next few months.
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Once we fully return back to the office I am waiting on the changes. I’m tired of wondering if this is the quarter they will redeploy my department or wondering if we still have a job. We have seen this happen with multiple departments weather they decide to outsource a department or give some strange excuse why they redeploying a department.
I expect layoffs are coming in early 2023. Capital One is notorious for bloat when times are good and slashing jobs in mass when they need to. I spent a couple miserable decades at this company and witnessed a number of significant layoffs (redeployments). I dealt with most of the unpleasant things you can read about here but I stuck it out and saved a good portion of each paycheck and took full advantage of the matching contributions. I did not buy a McMansion or a Tesla, BMW or Mercedes. I worked my a-s off and did a great job for the company but I did not play the politics so I just stayed at a mid level and watched the 'system' in disgust. Promotions were almost exclusively for those who played the game, distanced themselves from folks at their level and cozied up to those who could help them move up. I left with my dignity and fairly wealthy because I just stuck it out and was smart with the money I made. I blame nobody for staying all those years since I could have left a number of times and had other offers but I had an endgame.
Be on the lookout for another one of those days where they invite some folks to building 7 and some people to building 2. Depending on which building your invite comes from will dictate your future with the company. Make sure to bring your badge and pc. Good luck and I hope I am wrong, but I weathered many of these events and unless the company has changed its ways, there are storm clouds on the horizon. I would expect there are storm clouds brewing at many companies these days so jumping ship at this point may not make much sense.
I don't see any layoffs coming in most of the tech organization. Usual attrition and calibration will take care of any shedding.
Not entirely sure about the automotive tech division because of the downturn in the auto lending sector. So, there could be something coming there.