Capital One Reportedly Cutting 1,100 Employees As 2023 Layoffs Continue

Topline Banking giant Capital One has laid off roughly 1,100 employees, Bloomberg reported on Thursday, just days after software giant Microsoft announced plans to cut 10,000

employees and Amazon began laying off 18,000—as fears of a looming recession continue into the new year.Timeline January 19Capital One reportedly slashed 1,100 technology

positions, a source familiar with the matter told Bloomberg—Capital One did not immediately respond to Forbes’ request for comment, although a spokesperson told Bloomberg that

affected employees were told they could apply for other roles in the company. January 19Student loan servicer Nelnet announced it will let go of 350 associates hired over

past next six months, while another 210 will be cut for “performance reasons,” telling Insider the cuts come as President Joe Biden’s student debt forgiveness program continues to

stall after facing legal challenges from conservative groups opposed to the measure. January 18Microsoft’s cuts, which affect 10,000 employees (less than 5% of its

workforce), come three months after the Washington-based company conducted another round of layoffs affecting less than 1% of its roughly 180,000 employees, with CEO Satya Nadella

saying in a message to employees that some workers will be notified starting Wednesday, and the layoffs will be conducted by the end of the third fiscal quarter in

September.