Discover is the best got it? We have Coolidge too..
Discover will take over capital one .
Remote work is new futureZzz
7 replies (most recent on top)
So we discos are best, goat it?
So you agree you are duumb! I’m not here to clearify to duumbos, clear?
Sorry, can you clarify that a little more for me, please? I’m not clear with what you are saying.
Payment network is the only reason ! Discover shouldn’t be associated with Discover at all
I know the Mexico comment was likely just in jest, but what’s really funny (or not, if you are a DFS employee) is how much truth there is behind this. For what dev resources they don’t deem absolute top tier (top10%) most engineering and tech roles will go to Mexico, Mexico City specifically. Front line associate or call center? Those are earmarked to fold in nicely to the existing teams in the Philippines. HR or Finance? Sorry those are soon to be duplicative departments and no need for overlap so will be the first “redeployment” under the common capital one roof. Makes for good optics in the eyes of The Street to implement immediate cost savings. Home mortgage group and other lending areas?Nah - portfolio already being shopped around as CapOne has been there, done that, liquidated its own mortgage group years ago and barely does any lending any more, got out of most lending already.
All those fancy versions of different card art you can get today as a DFS cardholder? Sorry too much complexity with no ROI and doesn’t fit into the simplified portfolio CapOne has been running for years. That means product and tech simplification which yields even further cuts. Will be nice to have some anchor office space in Chicago, etc but won’t need the excess square footage for long and you will likely see major office consolidations in first 12 months. Fret not, plenty of space will be there for you to come in mandatory 3 days a week (in 2025 at least - it will be 4 in 2026). Look at CapOnes recent history of closing or significantly reducing corp office spaces in Vegas, NewYork, Louisiana, etc.
Bottom line is in plain sight and has been all along, no one wants to actually say it. Cap One wants THE PAYMENT NETWORK. Everything else is positive optics to get the deal done. True colors will reveal embarrassingly soon post transaction. Throw a couple hundred million at “community reinvestment” to grease the skids and get the deal approved by regulators. New administration coming in all but guarantees a bank friendly landscape for this to go through quickly. No more concessions or feel-good promises to win over shareholders (they will be bought out fairly and that’s all they essentially care about) or appeasement of vocal congressional/senate sounding boards. This deal is gonna happen, it’s gonna be ugly if you work at DFS, and if you are a current DFS customer you likely will barely notice a difference other than your card being refreshed the next time it is up for expiration from orange to blue.
As much as the above may seem inflationary or far fetched, I’m not posting this to perpetuate some stupid us vs them angle. I genuinely feel bad for your rank-and-file DFS associate and strongly urge you to evaluate your current place in the ecosystem and consider taking whatever bonus may be coming as a part of the standard 2024 comp incentive and then activate your network, keep options warm, etc. GWIW, Citi, Chase, and US Bank seem to hire a lot of former CapOne people so if you want to stay in the industry I’d start by making connections there with recruiters.
I’ve been following this thread for a while - used to be a somewhat reliable and accurate source of q&a to help people with questions relating to the performance management process, dropping early word when a layoff was hitting select areas, etc. and generally speaking, providing a semblance of insight and actionable info for the curious; ”should I take an internship there”, the standard yearly meeting with the CEO was a joke this year, I got a necklace for my anniversary”, etc.
Been watching the past few months as these random unhinged broken English proxy battles are started on this thread stating DFS will rule all, etc. confirms for me how much this board has degraded in content and validates the complete lack of moderation on this site and departure from when it provided some actual insight and value. Stupid attempts to distract or at dropping a funny or to goad people into a word battle - boy some folks sure are nervous and projecting their own reality. In all seriousness, wake up. Look at how these things historically go down and the writing on the wall for how this will go too is clearly there.
I dare Capone to layoff even a single discover employee…..discover is the best
They are going to outsource most of the discover jobs to Mexico.