Was informed today that senior leadership is mandating return to office for those that are in a hybrid working model (3 days on average). They will be enforcing the policy by tying attendance to an annual performance goal for the employee.
81 replies (most recent on top)
Forcing people to RTO to "utilize" empty buildings that the Bank is stuck with because of long term leases does not help the bank financially. Bank has to pay the rent regardless of whether or not the space is occupied. If everyone is forced to RTO so that someone can claim victory on effectively utilizing real estate assets, the bank would actually be spending MORE on building maintenance and utilities vs just leaving the spaces empty and exiting them as soon as the lease terms end. RTO is a failed argument if building utilization is your rationale. Complete fail.
Hey d-mb--s Post ID: @Ufiv+1qJGdtmT : Your reading comprehension is as poor as your financial acumen. Making people who currently work from home drive in and work from empty office buildings does not positively impact the Bank in any way. The cost of the buildings is there whether they are empty or filled. Consolidating people into fewer larger buildings would be an incremental positive impact, yes, because it implies we get rid of some smaller buildings. But you have failed to grasp the main point: We don't need to fill any of them just for the sake of filling them to rationalize their existence. Get rid of their existence entirely with the exception of space necessary for people who truly need to work in the office.
@Ufiv+1qJGdtmT
Definitely not “the only way”. They can sell. They should sell.
Hey dingus : @Uecm+1qJGdtmT, you obviously couldn’t interpret what I wrote. So let me rephrase it for you. People will be consolidated into larger buildings in order to shed the excess real estate. The idea is to utilize the buildings and not continue to pay for real estate that is not being used. the only way to utilize the buildings that we are either in long-term leases or own is to fill them up.
No, Post ID: @Uysk+1qJGdtmT , it is not about real estate and you obviously have no grasp on basic Accounting or Finance concepts. If the Bank has excess real estate, it needs to exit from some of that space. Whether the real estate is occupied or sitting empty, the cost is there. Making people come into the office does not change the cost structure or profitability of the Bank. Getting rid of real estate does. Having all the excess space illustrates that the Bank has been operating fine for over 3 years now without needing it, and needs to shed space.
@Uysk+1qJGdtmT
Maybe instead of sitting on that real estate and enforcing an archaic business model we could sell off the CRE and have developers turn it into housing. Yes converting it costs money but it’s possible.
No it is about real estate. We are drowning in space that we are paying for but is unused or under utilized. Between closing underperforming branches and consolidation where we have a lot of employees into larger buildings, on paper it makes sense. You may not like it but we aren’t a non profit, the bank has to leverage its assets along with limiting its liabilities. It’s common accounting.
Let's be honest about RTO. The reason is not data security (if so, 5 days per week in the office would be required and they wouldn't be offshoring things), or underutilized office space (get out of leases if we have too much space), or team building (many people have nobody in their "hub" location they even work with). So what's the real reason? Think back to your childhood. "Because I'm your mother and I said so!" There is nothing more to it than that. Cecere wants everyone in the office whether it makes sense or not, simply because that's what he wants. He doesn't know any other way to run a business. Good luck with that in 2024.
Per the FAQ the bank provided, remote workers outside of a hub are pretty much stuck in their current roles. Hiring preference for open positions will be for candidates within hub areas. .
They should be ashamed of themselves. 4 years working from home. 4 years of solid performance. Why sc--w that up U.S. Bank
Very interesting post and I think she hit the nail on the head
https://www.linkedin.com/posts/a-sophie-wade_layoffs-rto-returningtowork-activity-7170818151188836354-8aiy?utm_source=share&utm_medium=member_desktop
The bank hates happy employees.
USB return-to-office mandate is "a layoff wolf" in sheep's clothing. Using RTO mandate to evaluating yearly performance review is by far the worst evil tactic. 😈...
Sounds like a quiet layoff and didnt want to put that way to trigger to a panic for the shareholders.
Plus, there is no discussion at all. No ones to take questions from concern employees.
What I don’t get is how all previously hired as RTO is being forced to go into the location. Why is USBank still posting jobs that clearly say RTO as of 3/1/24 in local cities with a Hub location.
All employees should close their personal bank accounts and take their business elsewhere. The rate of return is so low and Yes we are employees and customers too. Let them see we have power too to make a statement to them.
I see the RTO request as extremely contradictory to the bank's "commitment" to supporting employees' growth and well-being. It is also NOT in line with their beautiful values that they keep brainwashing us with. It really does look like a layoff and/or real estate argument is true.
When I joined I was assured that the company is extremely flexible and I was to go to the office only if I wanted to and specifically when "moments that matter" stuff was going on. How things change... .
They are just waiting for some of us to quit and will wait out the others (me included) who will complain for another while and just get tired, give up fighting and shut up eventually. Win - win for them. I am aware that we are just numbers for them and they really don't care in general but come on people, treating us this way is so so so bad. You really don't have to be the same as your soulless competitors. I thought you were better than this.
"We want all our employee to feel valued, respected and understood"... . Clearly... .
"They should encourage teams to have their cameras on in virtual meetings and ask how things are going in their office locations" - and this lovely suggestion! Poor managers... .
The culture piece is such a joke. How can you build a culture forcing employees to do something that doesn't make sense and ensuring that you have them locked in due to the office goal. Threats of performance improvement plans or additional disciplinary action up to and including termination - lovely. Great culture, well done.
Home based employees have to report in as well. If you move more than 30 miles away from a hub you have to continue commuting or you lose your job. They state you are going in for team building, and sharing of knowledge and for a whole pretty list of reasons. I'm the only one on my team in my city and I have to go in and sit by myself with no one around me in the hub that works in technology or can be a friend to me at the office. There will be no like-minded people to sit with. I will have no opportunity to collaborate with anyone. It is going to be horrible. And it is going to cost me $$$ and time to work in a miserable environment. I deserve better. I'm looking for a new job. I owe U.S. Bank nothing.
Andy, what have you done with the Company? And now you are making everyone come back to the office? That isn't going to save CRE. Time to step down.
Can't wait to see the "Talk To Us Survey" results next quarter. It's going to be a bloodbath.
Do you think the USBnet article pic are actual USB employees? Not a lot of DEI effort to type "workplace diversity" into the stock photo search engine.
Get there early? Who is going to drive hours to an office where they have to pay for parking and then get there early. No one in my department. Even now they get there when they get there and we have free parking. If this hub is in a major city no one on my team is going there. Literally not one person. I want to see this in action cause it’s laughable.
I wonder how many managers are going to activate that “notify when available” function on teams to keep track of their people
Sounds like you are going to have to schedule your time or get there early to secure your spot. I agree with 5 days per week and having to be in at least 3 days AND seat sharing it’s going to be a challenge
@4qwh+1qJGdtmT So if you show up and someone is already at your desk you go home? What kind of setup is this? They waste our time like it means nothing. Pretend like they are about being “green” but have us commute wasting our valuable time. None of it makes sense.
@4qwh+1qJGdtmT So if you show up and someone is already at your desk you go home? What kind of setup is this? They waste our time like it means nothing. Pretend like they are about being “green” but have us commute wasting our valuable time. None of it makes sense.
@4lqv+1qJGdtmT I think the idea of shared desks is that fewer people come into the office than what desks they have available. They don't have enough desks available for everyone that's assigned to our office. Not sure how it would work if more people came in than whatever number of desks they have available. It's only happened a couple times as far as I know, and it was on days that I was working from home.
The Managing Committee in Minneapolis (andy and reports) led the bank here. In way over their heads and called all the wrong shots on the Union deal. Still behind on capital, limiting lending and growth opportunities for all and facing a new regulatory fine. They think they will fix it by cutting payroll drastically.
So here we are with RTO, underfunded incentive plans and very low merit increases. The goal is to have employees quit, avoiding severance and unemployment expense. It’s easy and it saves them from thinking hard.
What they will actually accomplish is a case study on how to turn an entire labor force/employee engine against management and “Plan"
@4uca+1qJGdtmT how the he-l do you share seats? There are only 5 days in the work week and they want you in your seat at least 3 days which I’m assuming you can change and just come in whenever you want or is the policing going on to the time and day you’re coming in? Do you sit on each others lap the overlapping day and breathe in each other germs?
@2tdp+1qJGdtmT, We already have shared seats at the location I work at. The only people who get an assigned desk are those who are in the office 5 days/week. Look for it to be coming to other locations as well.
Sooooo what’s the over/under on people returning as soon as tomorrow?
It’s 90% old white dudes get over it Gunjan. You’re in a bad company.
Welcome to the chat, Gunjan
Didn't know Kedia was an old white man
- "Typical points made by white old men fighting for power. "
I highly doubt these decisions were just made by old white men. U.S. bank takes their DEI seriously so I am confident it was a diverse group of people who made this decision.
I am looking at usbnet right now and the back to office article picture doesn't even include any white men.
@2rer+1qJGdtmT on the intranet. If you look at their latest news article announcing this RTO scroll all the way down to bookmarking the intranet microsite and scroll down again to workforce strategy FAQ.
Where is the RTO FAQ posted? I can’t find it anywhere.
Just read the RTO FAQ and their answers are laughable and one sided. Typical points made by white old men fighting for power. They are going to implement shared seats in these so called hubs.
Every candidate deserves to know about the ‘under funded bonus pool’ too. I fell for that con at hire
I highly doubt that any manager is going to get a report, showing their employees logon, log off time, idle time, keystrokes period. You will see employees, disappearing for large amounts of time or claiming that they were “in the field“. So nothing will become of those employees, except status quo. They found a way to cheat the system and they’ll continue to cheat the system.
Seems like a good time to update the recruiting/feedback forums like Blind and Glassdoor with these updates. No hybrid and office attendance taking, that’ll bring the best and brightest to this backwards company!