Thread regarding Capital One layoffs

Capital One system is anything but fair or equitable

Anyone that believes the Capital One system is fair or equitable is not living in reality. The biannual process is a popularity contest not based on any quantitative data or any tangible results and is based on how well your manager and his/her peers like you.

It is a chess game that includes sacrificing one of your associates to save another with no rhyme or reason other than likability. What a shame to continue to decimate a work force and the greater Richmond community as Capital One continues to eliminate jobs. The irony is that they continue to use the term role elimination although the job is still there and there is someone else doing it.

Capital One has found a way to terminate its experienced work force and backfill it with cheaper and less experienced workforce. Capital One uses its "what's in your wallet" marketing resources to spin the fact that it has terminated literally hundreds of loyal employees that put their heart and sole into making the company successful. #no-employee-loyalty

Hope you don't mind me bumping this into a thread, @Py4bS3p-4lfp. It's perfectly put.

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Post ID: @OP+PFv77BE

3 replies (most recent on top)

They are moving Card out of Chicago, it's been internally announced. Not sure about all of Chicago. 12-18% of all Tech staff is going to hit the pavement soon too. Yes, annual performance is now being used as a weeding tool. I was a Strong and Very Strong performer and this last time I got a Development Plan and 98% of what was stated as a problem was made up. I had no idea who they were talking about. It will be really hard to get a strong now. They are doing a presentation now, from HR, where they are explaining how this works just so they can say, You see how HARD this is? Yeah, its the same process they have had for a decade or more but they are making it more stringent. I can only hope that my mgr, who turned 40 last year, will feel the brunt of this sooner than later just for complying with this nonsense.

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Post ID: @2zhyc+PFv77BE

Amen! I'm glad that I'm not the only one that saw that. My stats went up but I got "inconsistent" every year.

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Post ID: @Dzea+PFv77BE

Rumors are flying that Capital One is pulling out of Chicago. The US CARD layoffs announced 2 weeks ago so far have only impacted the business side. Tech is waiting for their turn. Meanwhile the annual performance" manage them out" phase is starting. An over whelming portion of the latest group has seen longer term workers over 40+ being listed as "inconsistent" -- first step for a performance review out the door.

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Post ID: @fge+PFv77BE

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