Capital One Financial (NYSE:COF) has laid off over 1.1K employees in its technology division after the credit card issuer spent over a decade modernizing its workforce and software delivery model.
The consumer lender eliminated roles focused on agile delivery of technology, which will now be taken up by existing engineering and product managers.
“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,” a company spokesperson told Seeking Alpha via an emailed statement.
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