Capital One Scraps 1,100 Tech Positions

Consumer lending firm Capital One has cut 1,100 positions in its technology segment, Reuters is reporting citing a source familiar with the matter, a move that comes as its digital transformation matures. From the report: The company plans to eliminate its "Agile" job family and integrate it into existing engineering and product manager roles, it said in a statement. The affected employees have been invited to apply for other roles in the bank. "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," the statement said.

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