Thread regarding Capital One layoffs

Capital One layoffs February 2018

So now that we all know E-Trade acquired a part of our retail brokerage business, we can all start updating our resumes. I know the company said there will be "some" layoffs, but I am willing to bet that "some" is going to be most of Wilmington employees.

Good luck to everybody, we are looking at trying weeks/months.

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Post ID: @OP+RqNUPIk

7 replies (most recent on top)

Capital One needs to stop this Frenzy of laying off people all the time in the name of reorganization. Once or twice a year is fine but 20 ppl gone every month is ridiculous & shows lack of leadership & clear thinking. It took me 6 months to get in the company to be laid off in 1.5 years because the role was not needed anymore???? Seriously??? And then 6 months later I see the same openings again.

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Post ID: @11ggk+RqNUPIk

I fully agree. They do not recognize the talent. I used to believe this is THE company to work for but alas I am forced out in spite of having the skills to succeed. My present manager who in spite of repeated complaints continues to strong arm the h1 workers is going to be promoted. I cannot believe how people get away by defying the core values of respecting people.

Its so demotivating and all my dreams gone as they will not recruit H1 guys anymore. RICH FAIRBANKS I trusted your words - "Do the right thing" not anymore SIR!!

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Post ID: @Zoxb+RqNUPIk

Last post was a bit rambling, but full of accurate statements and observations. Parties, treehouses, playgrounds, lovesfests for the kids.... 2+ decade employee and I have seen it all. At this point, I just laugh at the the senior leadership. This is what you get when you have policies that previous poster describes. Looking forward to voting for Homecoming King and Queen!

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Post ID: @kkvh+RqNUPIk

Absolutely the WORST commercial business organization or "lack of organization and experienced senior managers" that has been experienced. If you are in the many "cliques" and one of the HIGH WITH EXCEEDS OR EXCEPTIONAL rankings that occur within the (behind the scene emailed NINE-BOX scorecards) that are USED to determine and distinguish "THE BEST POOL OF TALENT" (oh please, you are advised that these are not really scorecard assessments but just a helping tool that really DOES NOT COUNT" then you are definitely a top-notch shoe-in at Capital ZERO ( whomever created "ONE" forgot what ONE means with regard to teamwork, morals, ethics, courtesy, coaching, developing and living the so called preaching of " Capital " ONES CULTURE and LIVING THE VALUES". If you can backstab, brown-nose, be besteeeee friends on the floor and plan the "sniper-attack behind closed doors with the LEADERS OF SUCCESS that you thought were actually wanting you to succeed by following their example, then you certainly have many of the MISSING Attributes and "ABILITIES" that is being sought to demoralize, demotivate and DEPLOY. And to think... you thought you were supposed to HONOR AND PROUDLY represent the MOTTO of 'Dare to DREAM, Dare to Deliver and Dare to Disrupt" ,that is written in the scriptures and preached and sermonized in good faith and belief of the teachings of what you belived to be the IDEAL CAREER PATH and COMPANY that you were initially "Honored" and "PROUD" to represent . Calling all those that can commit to absolute FAVORTISM, (ha ha no matter how many cases and evidence is provided with PROOF of concerns of mistreatment (after all we all know the employees open door ethics resources are really there to "listen" with good intentions but clearly maintain the "excellence of quality resolutions to executive tiers and overall company press). Really, you learn that a legitimate complaint (s) or multiple cases (Yes multiple) against the same individual helps bridge the decisioning factor for next level PROMOTION for a job APPARENTLY WELL DONE, what a way to go the concerned employee thinks!! Wow, this is what truly matters??? , then the realization that the approach taken is the ultimate way to add values and support a truly EARNED promotion based on likeability and without care or concern of the facts submitted, witnessed and proven. It is critical that being YOUNG is imperative, (executive tiers gear towards meeting of the minds with the young, party events and enjoying the "fun loving drinking and youthful spirits of the "new and aspiring" generation that will set the foundation of new and innovative creations and ideas that of course could or would not be possible with the dedicated and committed employee with 20 or 30 years experience....oh noo...lets form the stepping stones with young and fresh minds and build a new foundation that surely will result in FAIR and EQUITABLE calibrations for high performance rankings and ratings, wow what a concept!! Partying, drinking, tardiness or taking the next day off due to "party illness" definitely sets the precedent for doing the right thing and setting the "example". Disrepair, disrespect, disparity, disputed and disconnect are allowable on a team and critically important is the "deselected" employees a manager and co-workers determine are unlikable and are disengaged and desegragated entirely , yet those whom partner to create this uncomfortable enviornment HOLD in their hands the ability to "determine" their fate in this company. Likeabilty (OMG YES YES YES, IMPERATIVE with lack of knowledge, experience, honesty, respect and courtesy, and ensuring that employee resources (we should all know the names of these resources) that have open door policy and are encouraged to come forward, clearly understand what the outcome will be to protect what you think is you). There is always a new ADVENTURE on the horizon if you anticipate the roller coaster ride to always be bumpy, high speeding with acceleration and adrenaline of consistent reorganizations, restructures, disorganization, lack of experience and knowledge (why is that needed in today's millennial era) and most important hmmm job security?? Take the icy cold plunge into a new and exciting once of a lifetime dunking tank and see if you can de-thaw from the deep freeze that will remain with you once you have entered the depths of your new challenges!! Rich Fairbanks, do you truly understand how your, yes YOUR chosen executive team represents your company and the treatment of staff that you so proudly created and that employees ask, how can a company of such PROSPERITY AND MAGIC leave an impression like this on so many that have been within the walls and wanted to stay but were unfairly treated and forced out! I would think that a possible and much needed "UNDERCOVER BOSS' episode*s) should occur if the true adage of "Capital ONE" is its EMPLOYEES as drilled down directly from the owner of the company and delivered in the actions of the chosen executive team that represents, breathes, stands for and delivers on your behalf that message across your entire organization!!

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Post ID: @kozo+RqNUPIk

Pretty accurate description of what happened. No question about it. The destroyed The South, which was the most productive region in the Cap One Investing business. Just as unfortunate is that they later tried to rewrite history and act like this was part of the plan. They would later say they got rid of the transactional advisors and had upgraded. This was not only an insult to an informed person's intelligence, but very disingenuous. Kind of difficult to figure out how these "transactional" advisors took over 2 billion dollars in assets with them. That's a pretty neat trick!

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Post ID: @1tty+RqNUPIk

Yvette Butler and Jeff Sills were handed one of the most unique bank brokerage programs in the country. South Central (Hibernia) was one of the most productive bank programs in the country. There were over 20 $1million dollar producers in that program. The MidAtlantic (Chevy Chase Bank) had one of the fastest growing managed money programs on the Envestnet platform. Yvette and Jeff and their ridiculous opaque "journey" calls and limited knowledge about industry, product, sales and operations drove the South Central team to an independent firm where they took over $2billion in assets. How? The poorly written non-solicitation agreement was not legal in Louisiana. It was less valuable than toilet paper. Their lack of knowledge around managed products stunted the growth of the program. Slow golf clap. Nice work running a program that was 25 years in the making on the backs of people like Merritt Talbot, Sean Laughlin and the SC producers.....running off the talent, crushing morale, increasing stress levels, making it difficult to help clients and running the business into the ground in less than 5 years.

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Post ID: @tuf+RqNUPIk

Must/all of Wilmington will be severed.

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Post ID: @cjp+RqNUPIk

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