Just got word this morning from regional leadership that Arizona has been selected to pilot a new "transformative" branch staffing model. 1/3 of branches will be served by branch manager and bankers, with no tellers. Drive up service and opening new safe deposit boxes will be discontinued. Teller line will not be staffed, as customers walk into the branch. Bankers will greet customers and assist with platform and teller transactions at either their desk or behind the teller counter. Cash machines and system upgrades on computers are promised to us. Existing tellers in the 1/3 of branches affected will have to reapply for their jobs elsewhere.
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WaMu did this in 2003….
Good. The branch makes me cringe.
Management continuously pontificates about digital solutions.....but I've already had my colonoscopy this year so I'll take a pass.
@1cuc+1m1LKgiS The Carefree branch has very nice people who work in it but the hours have been limited for while now and the ATM in front always seems to be empty. I moved my account down the road to the Tom Darlington Chase. They have better hours and more people ready to help when you walk in.
(Insert some platitude about Main St and Wall St here.)
OP here. No service managers at the affected locations. No apparent change to Premier and Relationship Bankers role, given their licensure. The challenge here is going to be more logistical than anything else, as some branches have older and/or "underbanked" clientele that do not fit easily into the evolving "digital-first" model. I should add that weekday hours will be cut down to 10am to 4pm weekdays with Saturday service slowly going away.
Question - what happens to specialty bankers (premier bankers, small business bankers, relationship bankers) under this business model?
Also, what about service managers?
This is so beautiful to read. I’ve been saying this needs to be done forever. Also realize it doesn’t mean we’re slashing as many jobs as it sounds like. A branch of 13 with a manager, 8 tellers, and 4 personal bankers can actually serve customers more efficiently if they have an 11 headcount with a manager and 10 bankers. Actually it wouldn’t even be close. If those 8 tellers apply for the 6 banker jobs most will be just fine.
We've been told to lay off a third of our staff, shift more offshore and managers buckle up and take on more work from those let go. Funny how that doesn't roll up though.
this new model doesn't surprise me......
Interesting how the C-Suite is only interested in consolidation and efficiencies in the lower ranks, the least paid employees. What do tellers make, $20 an hour?
Seems to me that the bank could save a lot more money by forcing some of the extravagantly -paid executives to double up on their duties too.
Let’s eliminate redundancies in the C-Suite!
Charlie should be able to handle the roles of both CEO and COO. Come on, Charlie might have to put out a little extra effort along with the rest of us. That eliminates Scott Powell’s salary.
Jonathan Weiss should be able to handle both Investment Banking and WIM (at least). That eliminates Barry Sommers.
Michael P. Santomassimo should be able to take on more responsibility than just CFO. It’s not like he’s actually crunching the numbers himself. He should be able to take over Chief Accounting Officer, and Controller. That eliminates Muneera Carr.
Let’s just straight out eliminate William Daley, am I right?
A star performer like Mary Mack should be able to handle both Consumer Banking and Commercial Banking. There goes Kyle G. Hranicky.
Saul should be replaced with someone who can actually get something done with our technology. I’m not against paying someone worthwhile a decent salary.
Look how much money I just saved our shareholders. And then our customers can continue to be served properly by our $20/hour tellers who actually know what they’re doing.