Did capital one layoff thousands of employees yesterday? Heard it from a friend and she was impacted and I don't see any news.
I heard capital one has increased their forced pip quota this year, so probably a lot of silent layoffs. I heard business analysts were targeting 20% "inconsistent" (which is not pip but a coaching plan, but it's well on the path to a pip)
Damn I always thought CapitalOne is pretty chill
Sounds just like Amazon
Yup they did! 🙋🏻♂️
Thousands without any news coverage?
I’m not sure about thousands but I atleast know quite a few folks who got laid off or put in PIP.
they seem to keep doimg silent layoffs
Absolutely no one was laid off. Low performers are being PIP’d
Top comment says otherwise
Believe what you want.
I heard x with no receipt I make a post without blind tax. I think I’m the ruler of the world in my brain 🧠 (Op’s brain )
hmmm
No layoffs as of yet PIPs (performance related stack ranking) are not the same as layoffs (business restructuring).
They use the former to achieve the latter
PIPs at Capital One are arbitrary enough that they might as well be layoffs. I know a lot of strong performers who were just unlucky enough to be on very strong teams. If they had ranked against average teams they would have come out ok, but as it were, it might as well have been a lottery.
> Any layoff affecting more than 50 people, let alone "thousands", would trigger the WARN There are some details that let a company get around that. Give severance equal to the notice people and there won’t be a notice. There’s also a per-site threshold that has to be met to require WARN. Companies are good at getting around it to avoid press.
This ^ wish there was no workaround
This is just the pip wave from end of year perf
PIPs at Capital One are arbitrary enough that they might as well be layoffs. I know a lot of strong performers who were just unlucky enough to be on very strong teams. If they had ranked against average teams they would have come out ok, but as it were, it might as well have been a lottery.
Agreed
No layoffs. Some PIPs but no formal layoffs
PIPs at Capital One are arbitrary enough that they might as well be layoffs. I know a lot of strong performers who were just unlucky enough to be on very strong teams. If they had ranked against average teams they would have come out ok, but as it were, it might as well have been a lottery.
Not true
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I thought they already did a silent layoff last year 🙆♂️
They cut a bunch of folks that got the lowest bucket twice. Once in the last 3 years, then once again in the last year. They also changed the size of the last bucket to be larger.
Everyone in the last bucket the previous round got a PIP and it will be this way going forward