The combined total of 75,000 full time employees with 50,000 at c1 and 25,000 at discover will lead to a 20% quota of employees to be fired in stack rankings, a total of 15,000 employees out in PIPs for termination with low or no severance.
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lol then why bother and who cares work untill trey walk you out ! They are a cluster fk of a company ! Too many problems too many issues ! They make it so hard for the consumer
Anyone noticing our stock price? Everyone not impacted is walking around like we are on a mind field waiting for the next one to go off. Sad and scarry. The worst of it is watching the posts on sites like linkedin where everyone is saying they have been RIF'd and two posts down another person says they are pleased to announce they are starting their new position at C!. What? What a horrible company. They do not care about their people. This is obvious. So very sad. Hangin' in there - hopefully things will get better, but in the windy city, its scary... and pathetically sad... Rich man is a poor man when it comes to heart and empathy...
@b0d Sorry to hear that. Which business area was impacted?
Our whole team was let go. All of our bosses stayed and got retention bonuses.
The bosses will train the contractors that will take our jobs. The bosses claim they didn’t know this was coming and said they were as surprised as we were.
Don’t let them fool you. More layoffs and PIPs coming in 2026. Cap 1 only cares about themselves. Good look to the Discover folks, hope they find new jobs.
Cap 1 is bringing a toxic work environment every one is on pins and needles
@7yr Feb 23rd estimated 10-20% of Discover was let go. Rumor is June is the next cycle of lay offs
Is there anymore layoffs happening anytime soon?
Massive layoff this morning at Discover/Capital One.
@cs Has there been much chatter about people placed on PIPS? No noise about any, but then again people probably wouldn't discuss much ?? 🤔
@cs : Tech side , too many redundant resources . Most of the contractors joined back as FTEs using connections at discover will be gone first , list is being prepared.
The amount of work required from the merge is enormous. They will not just reduce the headcount that significantly. They will retain the standard cut rate but I doubt they up it to compensate. Capital One tries to be cost efficient but they aren’t stupid. They are attempting to reinvent a payment network where margin for error is nonexistent. This is made up
@OP source?
What’s your source on this? It seems like hyperbole.
All across the board no mercy. A full 20% of employees must be cut in 2026 beginning in end of year 2025 to end of year 2026. Better get to running.
Any other details? Across all job families? Tech, product, etc?
Any idea when it will start?
Fired not laid off. Fired on PIPs.