Any chance these deep cuts are getting ready to sell the company? Just wondering if it is finally the time to be swallowed up and the company is slashing and burning to make the books right for the sale. M&A is picking up.
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Warren Buffet purchased 9.9 million shares in March and the number one share holder is Black Rock
@3dia+1njAWzKx 😂 Resurrecting rumors from 2017. Not happening.
Hiring more and more Amazon Executives. Cleaning the house with Amazon PIP process. I think C1 is getting dressed up for the likes of Amazon to buy.
Our company has so many layers of executives who do nothing! Layoff at least two to three layers and leave the front line managers in their roles. Why do we need so many MVP, SVP’s, senior Directors, directions, etc. what the he-l do these people do?
CEO and his lieutenants are even mid level management (manager and Sr Director) are garbage.
Capone is garbage no one in their right mind would buy a credit card company with so many toxic and high risk loans. House of cards.
cof would be acquiring new businesses definitely not selling
Wow, why someone can not tolerate another opinion? All stocks dived 60% then? COF card business has more subprime customers is a known factor. It is not true the defaults are rising? It is not true Walmart is suing for lack of profit?
To the last poster, you're freakin id--t, ALL stocks took a dive in early 2020! Man, so many cry babies that don't do sh-t, but still expect a paycheck! If you don't contribute then SEE YA LATER and don't let the door hit you in the a-s on your way out CLOWNS!
Realized COF was a risky business when the stock dived into 40s in 2020. Think the job cuts are more related to the business situation: rising charge-off rate and delinquency rate, higher interest rate paying the bank customers …
They're so aggressive with firings because they have a lot of defaults and their primary revenue is credit cards.
The CEO and his minions actually think they know what they're doing and doing a great job when they aren't. This place has to be shutdown and seized by the regulators.
Probably not. The recession is coming either at the end of this year or in 2024, so the company is trying to balance all the spending to deal with the extended high inflation and slower businesses, etc
Other banks like Citi Bank are also laying off.
Hopefully, this layoff doesn't affect too many people.