#discussion

I’m reading managers and directors. Is there any more info on which managers and which directors? What channel

In case you’re curious why certain comments or even entire threads are being deleted:

https://www.thelayoff.com/rules

1) Bill Rogers
2) Ken Thompson and everyone else at Wachovia
3) Kelly King
4) Ken Lewis
5-10) let’s hear who else is bad?

Quite the pivot for a rudderless ship

Any idea?

Is "cribbing" a new US Bank slang? What does it mean?

How would you compare us to the rest of competition?

I am interested in opinions of folks that worked for other companies.

Also, I'd love to see what people think about our position a few years from now

Curious to know what's going on with MBP (Modern Banking Platform)? It seems like it got hit with layoffs recently. I've heard rumors about it struggling lately to gain traction as a proven core solution.

I do not know why, but something about every post here on this site brought me to this old fav video. Yeah, I am GenX, interpret as you want, its art, but relevent lol

Capital One is a major U.S. bank and credit card issuer known for its robust rewards ecosystem and strong market position. However, the mention of "rankings" and "PIPs" refers to internal corporate terminology rather than credit cards: [1, 2, 3, 4, 5]

• Stack Ranking: Capital One uses a forced distribution performance management system to rate employees against one another rather than against fixed goals. [6, 7]
• The "PIP": A PIP refers to a Performance Improvement Plan. Employees often receive this if they fall into the bottom percentages of their stack-ranked cohort. [8, 9]

The specific details of this system include:
## Stack Ranking
Capital One assigns employees performance ratings such as "Exceptional," "Above Strong," "Strong," and "Below Strong". Many former employees note that the company utilizes a forced distribution system where a set percentage of the workforce (roughly 10% - 15%) must be placed in the bottom tier every 6 months. This means that even if a team is full of high achievers, someone inevitably ends up at the bottom of the stack. [10, 11, 12, 13]
## PIPs (Performance Improvement Plans)
Employees who fall into the "Below Strong" category twice in a row, or sometimes automatically depending on management decisions, are placed on a PIP. A PIP is a formal process intended to correct performance, but many former employees state that it is often treated as a precursor to termination or "soft layoffs". [10, 11]
## The Employee Consensus
Feedback on platforms like Glassdoor and Reddit shows mixed opinions. Some workers appreciate the clear metrics and find the compensation competitive, but there is a significant consensus regarding the toxic nature of the forced ranking. Many employees argue that the system creates an unnecessarily competitive and stressful environment, disincentivizing teamwork because an individual's high performance could negatively impact a peer's ranking. [6, 8, 14, 15, 16]

[1] https://www.youtube.com
[2] https://umbrex.com
[3] https://finance.yahoo.com
[4] https://www.creditcards.com
[5] https://www.forbes.com
[6] https://www.reddit.com
[7] https://www.opinionx.co
[8] https://www.reddit.com
[9] https://www.glassdoor.com
[10] https://www.reddit.com
[11] https://www.glassdoor.com
[12] https://www.glassdoor.com
[13] https://teamgps.com
[14] https://www.reddit.com
[15] https://www.glassdoor.com
[16] https://www.jointaro.com

Anyone else get this invite for 3:30pm eastern? Is it an all clear or doom?

Charlie sounds upset about being asked why every bank surpassed WF earnings He basically said he was tired of this question. Is he feeling the heat???

Batter up!

I understand the anger against GK, which is valid but is it necessary to throw all Indians under the bus? As a WASP who has worked with several competent Indian origin employees over the years who even went on to become American citizens, I just find all this stereotyping against an entire community a sad projection of what our country has become. Always thought the USB community was above it. Every group without exceptions has competency across the board in similar percentages so I don't understand this new and rising sentiment. Just venting, I guess.

Could it be?

How many people on this site are commenting with perspectives from Retail vs Corporate functions?

Call is going on now. Add your impressions of the call. 🍿

https://www.wheresyoured.at/the-openai-bubble/#the-ai-bubble-is-an-openai-bubble-%E2%80%94-to-a-mortal-end

when will it be clear? eastern time

Anyone in the central time zone impacted yet? My nails are gone

It’s just a rumor; everything looks normal.

Is business being affected at all?

How we feeling? Comment below.

What is the time frame to hear anything ?

Fuji Reorganization and Employment Security

Heard a rumor that there was a third individual at the secret hotel meetings. Any idea who that could be?

Any chance it'll wrap up today?

With under 6 months here?

Time to share, who is the most toxic boss or department in Saudi Aramco. This should be interesting

Just curious, any departments getting word of additional duties? If so, list your dept. and if comfortable, your additional duties.

Given what's happened to spcx, smh, igv, smci, are we seeing the peeling off of the AI trade that now appears to have claimed ibm?

Will HCL be gone when their contract is up? Or will Big Red keep them around to muck up the works?

will finance be affected in BR or LM? do we know what groups

These questions are making him a little jittery. Bless it.

I could not watch. Could someone make a favor and do tldr

Any indications on the best guess impact to International?

From Bloomberg (paywalled)

“You really don’t need the latest cutting-edge, incredibly expensive model to summarize an analyst report,” Chief Financial Officer Jeremy Barnum said on an analyst call Tuesday after the firm reported its second-quarter results. “So the idea is use the right model for the right purpose.”

bwahahahahahaha.

Charlie Scharf: oh yeah? Hold my beer while I tokenmaxx.

When do they run the workplace excellence reports? I thought it was supposed to be the first Sunday of every month (ex: June 7, July 5, August 2, September 6), but I noticed they ran it in June on June 3rd instead of June 7.