After several layoffs earlier this year now CapitalOne forced everyone with a below strong performance rating to be PIPed. Almost 15% of the work force was marked below strong this mid year cycle. Poor management making poor decisions once again... Not a great company to work for.
Insane..and the other day recruiter reached out for contract role at Captial One. They did a full circle. From firing to hiring but on contract!
Is contract bad?
Well when a company is led by incompetent Board, the easiest way for CEOs and CIOs to do is what I call a Circular Trade to show fake improvements. Hire in the name of developing core competencies..without knowing what's the business outcome...when cost pressure increases..fire in the name of Efficiency! And make millions in the process
Wait, really? That doesn't mean they'll be piped does it?
That sucks
Yup it’s true but this news is about a month old
They're acting like a top paying company when they're really shit tier
Haha, I've noticed that too. They're about as generic a financial company as you could imagine, but somehow they brag about their tech stack as though they're SpaceX or something.
From a former CapOner. Things are all relative: compared to banks they pay much better ( manager at CapOne = director salary at other banks), and their tech stack is much better than the banks. Compared to tech, yes their stack / processes are terrible. From a salary perspective they pay like a b level tech company
Sorry to hear this, OP. A terrible company does terrible things, and I only hope that people boycott this company and refuse to work for any company with a PIP culture like this. TC: 105K
Good man/woman adding TC to comments as well respect🫡
🫡 second that
I'm sorry to hear this. Don't they PIP 10% every year in regular years?
I guess the difference is the pip percentage increased. They are going to be doing it again in 6 months likely for year end reviews.
Well, this happens in recessions. We haven't seen one since 2008
CapOne in NoVA is almost exclusively an H1B shop. That can't be good news for those in visas. Locals generally steer clear of CapOne.
They don't sponsor unless you're Sr. Manager or above I believe
Snr Manager is not difficult to get though, it’s the equivalent of L4/L5 in tech.
I worked there for 1.5 months. When I joined I felt like I was joining black rock or something it was a bank it was cool. Then they told me they were a real tech company and I was so excited
What changed in that 1.5 months to make you leave? That's a pretty short tenure, I would like to hear the reason
We need the rest of the story please
What are the ratings in c1?
At mid year it’s below strong, strong (target) and above strong. It’s more nuanced at year end