Capital One Eliminates 1,100 Tech Jobs

Capital One has eliminated 1,100 agile tech jobs, part of its “overall tech transformation.”

According to Bloomberg, the company is eliminating jobs specifically focused on agile development. Instead, the company plans for existing engineering and product management roles to integrate agile methods in their work routines.

“Decisions that affect our associates, especially those that involve role eliminations, are incredibly difficult,” the company said in the statement to Bloomberg. “This announcement is not a reflection on these individuals or the work they have driven on behalf of our technology organization. Their contributions have been critical to maturing our software-delivery model and our overall tech transformation.

“The agile role in our tech organization was critical to our earlier transformation phases but as our organization matured, the natural next step is to integrate agile delivery processes directly into our core engineering practices,” Capital One added.

Impacted employees are being invited to apply for other roles within the company. Those that don’t find new jobs inside Capital One will be given at least 16 weeks severance pay.