Thread regarding U.S. Bank layoffs

USBANK OCTOBER 21 2019 POSSIBLE LAYOFF'S ?

USBANK OCTOBER 21 2019 POSSIBLE LAYOFF'S ?

Anyone have any info

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Post ID: @11DvdIse

71 replies (most recent on top)

Very sad to hear. I should have known when they started taking away responsibilities from the assistant branch managers a couple years ago.

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Post ID: @11DvdIse-bjag

Does anyone know if this will be affecting the merchant services side? Elavon is part of US Bank.

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Post ID: @11DvdIse-6gfd

I picked up the vibe at the 2018 annual employee event. Listening to Andy talking and watching the expressionless faces on those other senior leaders sitting around him made me say to myself, "this guy isn't Richard Davis."
Sadly, change after change I witnessed gave me the wake up call that it's time to jump ship.
I just want to encourage those who are being affected right now to recognize that there is opportunity in challenge. You are all very talented people. Don't sell yourself short. You create your destiny, not US Bank. With God's grace, move forward !

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Post ID: @11DvdIse-3ylf

I wish they would offer early retirement.

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Post ID: @11DvdIse-3zct

Are the universal banker jobs safe?

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Post ID: @11DvdIse-2faj

We are all in the same boat and need to influence change through the board of directors or through voicing our stories directly through the media. Employees of other companies go on strike to affect change.

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Post ID: @11DvdIse-2rdg

Letting go of your customer facing staff such as your Assistant Managers and Business Banking Officers is a mistake. Instead you decided to keep your Regional Operations Managers, Operations Specialists, worthless IT people, rude Wire Transfer department staff, customer experience project managers, and other non-revenue producing positions that add absolutely no value.

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Post ID: @11DvdIse-2cua

Andy is "robbing Peter to pay Paul". US Bank can't compete because it has pandered to an older demographic that is dying out.
Its strategy to modernize is too little too late. In the branches, it has just let go the experienced employees leaving many branches with no leadership.
The real problem is USBank under Andy only looks to gouge and exploit customers and employees. If it had competive products it could hold and attract customers. Its lending is also too conservative which alienates the younger demographic they are trying to attract by replacing experienced staff with younger looking employees.
In the end, the gain will be temporary as the collective knowledge of those let go is replaced by the ignorant and ambitious.
Sure, Andy is a numbers guy, but he is looking at the wrong numbers.

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Post ID: @11DvdIse-2nce

This is just the1st wave. They have set deadlines to do in waves. Update your resumes and find something amazing. Best wishes to all.

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Post ID: @11DvdIse-2fkr

Us bank still does not have the nternal technology to handle these lay offs. Instead of pouring money into Microsoft 365 cloud products that 85% of the employees will have no time for, how about keeping ur employees.

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Post ID: @11DvdIse-2egm

What will happen to the bank managers? They let some district managers go today. Assigned the remaining DM’s more branches.

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Post ID: @11DvdIse-2muy

Congratulations Andy Cecere, you just k–led the morale of one area of your company that has been behind its success all of these years, your employees. Expect a mass exodus and the board to replace you with Tim Welch in the next few years when you break your long standing dividend streak.

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Post ID: @11DvdIse-1bwy

So they take your position away lay-off date Dec 20th but you have to stay the entire time. What if I can’t find a job that will hold a position not fair at all

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Post ID: @11DvdIse-1uku

NTT Data, OMG... They are barely surviving - they are principally consisting of the old Dell Services (formerly Perot Systems). It has gone nowhere in the three or so years since it acquired Dell services and is run by 'has beens' from Fujitsu and Dell - cannot believe you guys went with them... Also, they are at AIG and AIG has a lively obard here - you can ask them how is NTT Data doing for them. Good luck peeps!

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Post ID: @11DvdIse-1una

It’s impacting all facets of the bank, not just retail. TOS took a hit, but cash services, records, item processing are all being downsized. Banks will be closing nationwide where it makes sense. Overhead on a poorly performing bank doesn’t make sense. Deferred maintenance, capital investments it’s all about running a business. People blame Andy, and Andy is a numbers guy. But when the numbers don’t work then you have to make changes. I know a lot of people are irritated but this is about running a business.

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Post ID: @11DvdIse-1uft

"US' Bank is sourcing more and more jobs to India.
Cuts are across the board and have been going on behind the scenes for over a year. Andy Cecere is trying to make the bank look profitable by cutting enployees, thus making life harder for the people who are staying by overworking them. That's because he doesn't know any other way and doesn't care about the nobodies who work there.
People have been leaving in record numbers for other jobs because life at "US" Bank has been horrible under his leadership and the toxic environment he has ushered in.
I miss Richard Davis!

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Post ID: @11DvdIse-1jnx

@11DvdIse-1tma IT layoffs are company wide. St Louis, Minneapolis, Portland, Home based employees, etc.

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Post ID: @11DvdIse-1opj

Good morning Vietnam:
https://www.nttdata.com/vn/en/services/outsourcing-services

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Post ID: @11DvdIse-1oeb

Anyone know if layoffs are expected for commercial or business banking?

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Post ID: @11DvdIse-1qgn

lay offs took place today in Commercial Lending as well.

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Post ID: @11DvdIse-1cxc

Are IT layoffs in St Louis or Minneapolis?

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Post ID: @11DvdIse-1tma

The executive spearheading the IT outsourcing process is retiring within the next year, hilarious

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Post ID: @11DvdIse-1ivs

“Yup, whole IT department is being outsourced. Gave until May with no severance.”

If you know your job is being cut within 7 months, wouldn’t you start looking for a new job before those 7 months are over? Unless it was a couple months of severance, I’d take the security of having a new job before May even rolled around.

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Post ID: @11DvdIse-1awl

"Yup, whole IT department is being outsourced. Gave until May with no severance"
Nope.

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Post ID: @11DvdIse-1tyq

Yup, whole IT department is being outsourced. Gave until May with no severance.

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Post ID: @11DvdIse-1iqz

This is a consequence of RPA (Robotic Process Automation). Essential tasks are now automated and tellers were downgraded like Walmart or Amazon warehouse workers. If you know someone in the RPA world at the bank, remember to thank them for turning US bank into a sweatshop.

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Post ID: @11DvdIse-1mfo

@1oad, I hope you don't mind, I quoted you in another thread here: @11EHmEb9

You made a great point, I wanted to make sure more people would read it.

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Post ID: @11DvdIse-1zpp

Going forward employees need to pay close attention to weekly changes and “optimizations”. The branch optimizations that have been carried out over the last year or two were clearly making the assistant manager position obsolete. This pattern is likely to continue with other positions in the company.

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Post ID: @11DvdIse-1oad

Does anyone know anything about layoffs in other departments? I heard Small Business Banking is going to be next. Not sure how true that is.

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Post ID: @11DvdIse-1mqi

US Bank is not unethical. I agree. However, it is the most inconsistent bank for applying employment criteria. While hard working IT professionals are let go by the bulk with no alternative to stay and develop, higher paid, yet incompetent IT SVPs such a– Levang and others remain and will collect their fat bonus next spring. That is inconsistent and hypocritical from a company that self-praises as seeking for its people. Never work for this bank,

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Post ID: @11DvdIse-1okt

We have stopped getting meal breaks for about a year now, there are managers running multiple branches, the branches have been running on two coverage for months. The ridiculous unsafe (2 people covering a bank???) and unethical work conditions (no meal breaks, only smoke breaks for those who happen to sneak out of the door to indulge their addiction) are out of the bounds of a company that toots its own horn about being one of the most ethical. I’ve had to leave my sick kids in school or for neighbors to care for because we have only one other person working in the branch. This absolutely horrid place to work with no work life balance is going to finally be exposed for the farce it is. The ones who are allowed to keep their jobs right now need to also count their days as the changes are simply just starting. This is the first wave, more waves will be coming soon when the first closings get announced soon.

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Post ID: @11DvdIse-1ygn

The entire IT Service Center (internal tech support help desk) will be outsourced to an external company by August 2020. They want to convert those that want to stay with the bank to 24 Hour Banking, not even tech related work.

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Post ID: @11DvdIse-1fat

For those that are saying that this is an unethical bank, there is a severance package. An unethical Bank would’ve handed you a pink slip and walked you out the door no severance. I understand that positions were eliminated but in order to remain competitive we have to change the way that we’re doing banking. At any time any position can be eliminated and changed. You have to be agile

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Post ID: @11DvdIse-1hgr

“ Went to work today to find an ominous message about a mandatory conference call. Myself and every other IT analyst at the company are being outsourced to an external company.”

Define IT analyst? Do you code? Or are these more help desk style?

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Post ID: @11DvdIse-1dlm

We were told to get on a mandatory conference call with our branch manager today. The call was to inform us pretty much that our position was no longer needed now that the company is moving towards a new direction. Branch assistant managers, teller coordinators and full time tellers are the positions that will be eliminated. Although it seems like only certain branches within the district received the job layoff news today. I've been with the company almost 18 years dedicated half of my life to this company and instead of delivering this heartbreaking news one on one, face to face- they delivered it in a group conference call. This shows how much this company cares about their employees. They say it's a business decision but what about our livelihood? They laidoff thousands of jobs just to post new ones and say you can apply within the company! Really? The only positions that may stick around for another year or so is the bm and the bankers. But with digital loan app online these days, bankers position will be eliminated soon. No position is safe just those that make the Six figure salaries sitting on the 9 floor with their Starbucks cup who never come face to face with a customer issue or transaction. But for all those that received the devastating news today, take it as a blessing. God's plan never disappoint . For every one door that closes , another one will open with better opportunities. All the best !

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Post ID: @11DvdIse-1xdq

I work at usbank and the last 12 months I’ve noticed terrible changes. Can they stop talking about being in Forbes list of most ethical employers. When they are ranked all the way down in the upper 400s and the lowest of all banks and lower than amazon, it’s not a good thing. Very unethical employer. I’m ashamed to work there but it pays the bills. When people ask I don’t tell them what bank I work at, what a disgrace. I can’t wait to find a new job where employees are treated and paid fairly.

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Post ID: @11DvdIse-1ijb

Went to work today to find an ominous message about a mandatory conference call. Myself and every other IT analyst at the company are being outsourced to an external company.

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Post ID: @11DvdIse-1bhg

US Bank used to be thriving in our town.

They downsized their staff (got rid local President) let employees go & now their once thriving business is no longer.

Most of the customers moved to smaller local banks where customer service is important.

Every time I did a deposit at US Bank they would hand me a slip on how to deposit checks electronically.

I joked with the teller you are cutting your job.

That’s pretty much what happened only a couple tellers left.

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Post ID: @11DvdIse-1rii

Sounds like IT is getting at least partially outsourced. I hope the current IT staff sees the writing on the wall and gets new jobs outside of USBank ASAP before training the outsourcing staff.

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Post ID: @11DvdIse-1zln

I knew something was going to happen, it was obvious when you walked into any of the branches, no employees & hours cut. I feel so sorry for the employees that have been laid off. I was a former employee at US Bank several years ago & it started changing then. 😢- Godspeed

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Post ID: @11DvdIse-1cyy

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