Thread regarding Capital One layoffs

Be Grateful for Layoffs: Unmasking the PIP Strategy Aimed at Cost-Savings!

Dear colleagues,

I write this post with a heavy heart and a sense of disappointment. Having dedicated over a decade of my life to our organization, C1, I am deeply disheartened by the recent policy changes that seem aimed at coercing employees into settling for less than their full severance package.

Over the years, I have come to respect and appreciate the ethos of our company, which has always placed emphasis on employee rights and well-being. However, it seems this spirit is under threat, and I feel it's important to share these concerns with you all.

For the first time in my 10-year tenure, I've witnessed the introduction of a concerning practice. Employees are being put into Performance Improvement Plans (PIPs) for scoring a 'below' grade for the first time, seemingly to meet arbitrary performance benchmarks set for the mid-year reviews. The issue here is twofold - not only is this an unprecedented move, but it also seems deliberately designed to scare employees into accepting a lesser severance package, presumably to minimize costs and avoid layoffs.

This new policy is indeed a departure from our previous review cycles and, in my view, represents a significant, detrimental shift in our company's culture. This approach appears to prioritize reduction targets over the job security and financial well-being of long-serving employees who have consistently performed their roles year after year.

The potential consequences of such a policy are troubling. It's not hard to envision legal backlash against this strategy, as it could be seen as coercive and perhaps even deceptive. More importantly, it risks eroding the trust that employees have placed in this organization over many years of service.

As we move forward, I implore everyone involved to reconsider the implications of these policy changes. I urge our company to return to a stance that respects the loyalty and contributions of its employees, and to reconsider these actions that I believe could harm the very soul of our company. If we truly value our workforce and wish to maintain our reputation, we must tread this path with caution.

In the meantime, let this post be a reminder to be grateful for every opportunity and privilege we have as employees. Layoffs, as disheartening as they may be, sometimes may be a better alternative compared to being cheated out of one's rightful severance. However, I hope and trust that we can work together to steer our beloved company back to the principles that have made it a great place to work for all these years.

Thank you for your time and attention.

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| 10551 views | | 20 replies (last June 13, 2025) | Reply
Post ID: @OP+1n70Ilvs

20 replies (most recent on top)

I've been working at Capital One for 6 months and going through calibrations. I am sick to my stomach knowing that you can perform well, and it still not be good enough and be PIP'd.

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Post ID: @371y+1n70Ilvs

I was rated BELOW STRONG but not put on a coaching plan in Mid Year last week. I'm afraid my manager is looking for a reason to fire me. I'm very stressed out and ended up at hospital with HBP and anxiety attack. I have never suffered from either. I've been at C1 for 7 years and always rated strong or above. Need to find out about stress leave. Hate hearing all these stories and have never doubted they real and honest. Sad that hard working smart people who are so excited at the beginning of their career at C1 to end up being treated this way. Jack Welch who invented STACKED RANKING in 1980 to show quik profit ended up dragging GE down with his stacked ranking.

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Post ID: @6Rhgt+1n70Ilvs

The method that this was done (Performance) and the payout (60 days) means that Capital One doesn't have to file for the WARN Act.

If they did a layoff, they would.

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Post ID: @4Lujx+1n70Ilvs

CapOne performance management wise is the worst part of experience job wise. It was a good place to work with good life things start going bad in last 2-3 years. I hope upper management realizes this will not help with morale/performance of associates. If they want to act like FAANG or how Rich says we are a software company which happens to be a bank than they need to match it with pay & benefits.

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Post ID: @4Krri+1n70Ilvs

So disappointed in Capital One. I was blind-sided by a Below Strong and then placed on a Coaching Plan. I was treated terribly by management, always very stern in their communications. Let’s get back to reality. I’m no criminal. Don’t treat me like one. I have never seen discrimination and retaliation like what I experienced at Capital One.

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Post ID: @47cry+1n70Ilvs

the doubled the buckets for below strong this year. a lot of good people are being let go under false pretense of "performance"

it absolutely is them avoiding the term layoffs. Its not a layoff, its a performance issue.. but you literally doubled the amount of people that would be laid off per the usual standard with no advanced notice.

leadership literally mentioned "healthy churn" .. meaning its healthy to lay off people who have been working there for years with tons of domain knowledge and experience?

at the same time we hire TDPs who know NOTHING of what they will be doing, and that is by design. 1 year they do one job. and then are forced to move to a completely different technology stack.

but thats fine. don't mind all the existing employees teaching and trying to help them. which hurts their performance day to day and may end up on a PIP..

it wasn't always like this, but the new leadership is toxic and cut throat. i remember when we were treated well and not forced to be a di-k to others because it meant our year end review

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Post ID: @1jrng+1n70Ilvs

I’m not sure what this discussion is about the company having to justify themselves with PIPs and all that to let people go. Almost every State has some form of “at-will” employment so they can terminate an employee for any or no reason with some exceptions.

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Post ID: @hwxc+1n70Ilvs

The key is the Associate Expectations everyone has to acknowledge each year. It’s written in there, under the bullet points for each section, that Capital One has the right to PM and terminate. I’m a former associate, and the practice described above wasn’t quite what was happening when I was there, but I assure you AR and legal know that the Associate Expectations cover them because it’s literally stated throughout.

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Post ID: @hxcg+1n70Ilvs

Funny part about HR/AR is that they are so wishy/washy on performance management/writing up people for behaviors/attendance but they went along with these False PIP’s and forced Below Strong ratings. The talk out of both sides of their mouth.

I do think Capital One bent backwards to be flexible during the Pandemic and we definitely had associates take advantage of that grace. I think now the company is dialing things back in but swinging too far the other direction.

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Post ID: @8ilb+1n70Ilvs

I got screwed on a review a couple of years ago and landed in below strong at end of year. I had a new manager for less than 30 days and then got a below strong on my review. I have never in my working career every been anything less than strong and more often than not exceeds expectations. There are definitely cliques and favorites. I worked hard and rebounded from that but I was really hurt by it. It is totally stupid that we have forced distribution….forcing people into a rating they did not earn is wrong! A review/rating should never be a surprise!!

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Post ID: @8knl+1n70Ilvs

This was heart felt and beautifully written. Thank you for expressing so gracefully what so many of us are feeling.

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Post ID: @3agc+1n70Ilvs

You sound like you part of the Rich cult. Part of the problem, who turned a blind eye until you were affected.

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Post ID: @2xas+1n70Ilvs

This shows the incompetence of HR....."we hire the best of the best...this place is the Harvard of banking, blah, blah, blah" so how is it even possible that the best need performance improvement plans, especially when those getting PIPs haven't even been here that long. I know one personally who hasn't even got their first EOY. Maybe HR shouldn't have hired her in the first place!

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Post ID: @1paq+1n70Ilvs

C1 really is one of the most messed up companies performance management wise. It’s a truly bizarre and torturous system. Why anyone would want to make a career there is beyond me. The VP’s MVP’s and SVP’s are so intoxicated by the high salaries and the perks the don’t even think like a normal person anymore. Truly bizarre.

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Post ID: @1ygb+1n70Ilvs

Does anyone know the last time Capital one did banking for good?

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Post ID: @dmr+1n70Ilvs

I just wish my colleagues would smoke a fat one and chill out.

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Post ID: @exf+1n70Ilvs

PIP, PIP, PIP. Was put on one because the manager was crazy and all over the place. She was always doing personal things like googling chandeliers. One crazy, batty witch.

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Post ID: @wop+1n70Ilvs

Watching the way this company is devolving in how they are treating associates makes me happy I was layed-off in January. C1 has been notorious for doing layoffs for years. The way they are treating associates now with the pipocalypse seems like torture.

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Post ID: @bhx+1n70Ilvs

It seems like arbitrarily fabricating just cause for termination as a cost saving measure to avoid paying out severance would run afoul of some type of labor law, no?

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Post ID: @bws+1n70Ilvs

As a new manager I have seen this also. I don't understand how they expect us to give someone a PIP that has never been told they are not performing. I understand they need to reduce heads but this is not the right way to do it. If someone was on a coaching plan and did not improve then a PIP might be justified but for people that are at a solid Strong to be given a below and then be put immediately on a PIP is outrageous and disgusting. Time to find a new job my health and integrity can not take this.

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Post ID: @ovh+1n70Ilvs

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