Workforce planning initiative stems from major cost reduction programme

To remove $700 million in operating costs from a budget of $6.6 billion by 2009 following a 2007 crisis in the financial services industry, Capital One, a US credit card issuer, developed a cost reduction plan which involved consolidating and streamlining functions, reducing layers of management and eliminating approximately 2,000 jobs. To address the workforce…

BPIR Categories

9.3.1 Plan & forecast workforce requirements
9.3.6 Restructure & rightsize workforce