Capital One to cut over 1K roles
Capital One is laying off more than 1,100 tech employees from its Agile delivery team as it seeks to reduce "legacy technology costs," Forbes reports. The move follows years of heavy spending in growing its cloud systems, an effort the company described as vital to Capital One's "tech transformation” in an email. Staff impacted by the cuts will be asked to apply for open internal roles and those unable to find a new Capital One position will be offered at least 16 weeks of severance pay.
Former staff affected by the layoffs are reaching out to their networks and sharing on LinkedIn. See their posts below.