http://www.startribune.com/u-s-bank-begins-staffing-overhaul-at-branches-with-unspecified-number-of-job-cuts/563584152/
U.S. Bancorp told employees Monday it would restructure staffing at its 3,000 U.S. Bank branches, including an unspecified number of job cuts, in its biggest response yet to the declining use of brick-and-mortar banks by consumers.
This is a sad state for personal interaction. Technology is not always the best. People are losing the ability to have face to face conversations. I love going to the bank. Sometimes that interaction leads to other things like opening a new credit card or offering a loan that I wasn't aware of. I still stand in line, so there are others like me. Maybe Wells Fargo is a better place. They still believe in face to face contact.
This is sad and unfortunate, but people just don’t use branches anymore. I work at a bank above a branch and I never go in. Hopefully cross training can use the talent these great workers already have into new forward thinking roles. I don’t like the corporate greed comments. The jobs are just outdated. It would be like expecting everyone to keep their landlines because the number of technicians to install them would be eliminated. Keep fresh, learn all new things and be very willing to move into a new exciting role. Things are moving at lightening speed.
Job cuts are always painful. There's no doubt bank executives are paid too much. Ask yourself though when was the last time you actually went into a bank to conduct a banking transaction? I doubt that I have had to set foot in a bank more than 4 times in 2 or 3 years. Technology has significantly reduced the need for bank employees. I did a refinance which was all handled online and the closing was done at my home. It's a new day in banking for sure.
Corporate greed? Think again. Tell me a branch that needs a branch manager, assistant manager, personal banker, universal banker, full-time teller, teller coordinator, and part-time teller?
Named by Ethispere as one of the most ethical banks? CEO earns a disproportionate salary in comparison with their average worker? Reduction of Full Time employees to address the consumer’s changing needs? Sounds more like corporate greed to me.