Thread regarding Capital One layoffs

Situation in the technology division of Capital One

I have a job offer with Capital One to work in their technology group at McLean campus in Virginia. But Capital One seems to be laying off people almost every week.

How is the situation in the technology group?

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Post ID: @OP+Ru4Ius6

5 replies (most recent on top)

Insiders info has been, even in the Tech areas, planned 12-18% tech jobs getting hit this year. And all the above stated is true. The appraisal/review system has always been horrible and is now insane. People who are used to getting Very Strong are getting Coaching Plans. The bonuses are gone and part of your annual income so I suspect merit increases will be the only thing you get at year end before long. It is sad. Very sad. This was a great place to work at one time.

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Post ID: @Mwpz+Ru4Ius6

Especially in tech, don't do it. Too much uncertainty right now and short term tech needs. At best, I find that if you join there is a boring and long period before you contribute anything.

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Post ID: @fkvi+Ru4Ius6

I agree with the previous two posters. If you do not care about a short employment full of stress and extremely high expectations in a high school type setting, complete with cliques and all, take the job and milk them for all they worth. This is a particulary dicey year to join the company since they are going to be letting a lot of folks go as they get what they want out of the folks who can help them get completely migrated to the cloud. The have already bumped up the mandatory low end of the rating distribution to let folks go for performance reasons to save money on 'redeployments'. They announced this new distribution right as the EOY reviews were completed but not yet shared with employeed. In the past it has always been mass layoffs, smaller clandestine layoffs are always going on. These cost money so the company seems to have decided to just force out more folks by raising the low distribution numbers. Never mind going into the very subjective review process that pits everybody against their co-workers. Really very little incentive to help others because you could be hurting your own rating and chances of surviving. The corporate world is full of folks who are out for themselves and trying to claw their way to the top. Throw in this cuthroat performance management system that is based more on who you know, who knows you and how good a salesperson your manager is, well, you get the idea. Also, you will be in performance management most of the year, it never ends. A way to keep you running as fast as you can. You will constantly hear 'the bar is always rising, you need to do more to keep up'. This is a job at best, find a career! Good Luck.

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Post ID: @3fgg+Ru4Ius6

Take the job only if you have no other offers.

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Post ID: @qcn+Ru4Ius6

If you have no other offers take the job, but keep looking... It does not look like a good long term employment situation.

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Post ID: @wst+Ru4Ius6

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