Thread regarding Capital Group layoffs

Capital Group Layoffs 2015

I’ve heard many rumors about 2015 reorg and layoffs at Capital Group – I cannot confirm anything but a few folks have fairly good sources pretty high up (SVP on the IT side). Anyhow, it looks like they will be shifting things around again and there might be more work outsourced, we’ll see what happens but things are not looking good based on what I am hearing. I will come back here and post again if I get any additional info, but for now everyone on the IT side should have their resumes ready and be prepared to jump ship when the time comes. I am really not sure what groups and functions and levels might be impacted, we’ll see what 2015 brings.

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Capital Group have now layed off contractors too.

US based contractors are being let go and we are seeing more Infosys people coming from India.

If you work here you will quickly learn if you have fresh skills you easily have more recent and practical knowledge than your Capital Group counter parts.

The irony is they have a group they call engineering who are made up largely of old paper pushers who like to try to manage contractors and hope they make mistakes.

Somehow the culture of find fault in others is what the capital group promote.

Can confirm small number of lay offs in IT.

To be fair the US based contracting company is very overpriced and costly compared to Infosys

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The Capital Group infrastructure has been long since outsourced.

Software development is off shore and contracted. Most are contractors on H1B Visa from contracting company.

Project managers are outsourced for IT projects

Infosys is doing the server monitoring, most of the backup and restore work and day to day low level work.

Some lower level high priced on shore are doing the email support (contractors).

Most of the networking team are outsourced with few remaining.

This is another company that is using the system to hire contractors to displace US workers with H1B visa abuse.

They also outsource to hide the true cost of IT to investors as it relates to administrative overhead.

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Capital Group started strong then hiring someone ambitious with no care for the company; the family company was lost. Once they start outsourcing control of the company, customer service is lost. That is where the company is now.

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I can confirm practice of layoffs in small count group so as to avoid triggering Worker Adjustment and Retraining Notification (WARN) Act and Older Workers Benefit Protection Act (OWBPA) notification. Why layoff people? New IT management says that the "Business" is asking for "skills of the future"...Whatever that means.

Truth be told.....some on the new Contractors and Outsource Resources are doing same work of displaced workers but at less money.

So unless you can enter Capital Group at a Senior Management level or are a subject matter expert on some cutting edge technology ...do not bother to apply for IT work here.

And that folks is all I have to say about that !

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Please post if you have any info

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