Capital One Cuts More Than 1,100 Tech Jobs
- Credit-card firm has seen an ‘overall tech transformation’
- Affected employees can apply for other roles across company
This article is for subscribers only.
Capital One Financial Corp. eliminated hundreds of technology positions this week, the result of the credit-card giant spending years investing in systems meant to improve its efficiency.
More than 1,100 workers were affected, according to a person familiar with the matter who asked not to be identified discussing a private matter. Those employees have been invited to apply for other roles in the bank, with hundreds of open positions across the company, Capital One said in an emailed statement Thursday.