Another useless re-org happening in June. First with the CFO org and now leadership and teams to be shuffled around by June.
Senior management will give themselves pats on the back when in reality all it’s done is create inefficiency and mass confusion as no one even knows which org they’re aligned to and team structure makes no sense ….
This is not a company to spend your career at. Lots of good people let go with the almost yearly RIFs. Never accept a promotion if you want to stay here. Making money and getting old is bad at this company.
How can anyone trust this company? My manager was a Legend of Possible and shook hands with Cecere at the Legends event not even two months ago, and now he’s about to be out of a job. Why would I pursue or accept any kind of promotion or have any ambition when they’re axing people they just celebrated?
Andy has really made a mess of U.S. Bank. The culture is awful under his leadership.
In addition outsourcing all your IT tech support to India is pathetic considering the bank name is U.S Bank.
U.S. Bank is always looking to consultants to help them to a solution, unfortunately, the consultant is the problem and can never be the solution.
U.S. Bank will never be Wells Fargo. J.P
Morgan, CitiBank or Bank of America, those opportunities have come and gone, but they are going to have an even harder time staying competitive with Truist, PNC and Regions Bank if they keep listening to consultants instead of their own shareholders and emoyees.
This is what happens when you have a career Consultant run 1/2 of the bank. They are severing top performers now just like they did in 2019. Consultants play, analyze rinse and repeat…. Therefore never responsible for the results. USB is a place that no one should trust. These are bad decisions for the shareholders, the employees and the customers. I am sad to say that my employer of almost 25 years has no loyalty to anyone. The Board needs to demand a shake up of the C level of the bank.
Overhearing my manager say that we were "overstaffed" in two branches, we aren't, but we aren't bringing in "enough" revenue. In my position, I'm doing fairly well, but I wonder if this one person from each branch will become the next victim of June. The manager and district manager should definitely be fired. Things are completely disorganized.
We are slowly getting to the point where U.S. Bank and it beaurocratic multiple layers of reg and compliance teams can no longer compete with the bigger banks and is non competitive against its own peer group, the leadership is so focused on Minneapolis and the problems in that progressive and broken city, they have missed the business and banking opportunities in other parts of the country, particularly in the South. Why would any business or intelligent person want to fool with the sluggish and backwards USB?Truist, Regions and the rest of the regional banks run circles around the U.S. Bank Oldsmobile banking operations and they aren't circling the drain, they are well down the pipe.
Move the U.S. Bank offices and operations to Dallas, Atlanta, Orlando or Nashville, get out of Manyhelpless and St. Pitiful and get back in the real world that is still here, the rest of the banking universe has it figured out.
The USB business model is so broken. Once the last boomer dies, who needs a local bank? Until this time USB will have a perpetual cycle of RIFs, locations closing, re-org, repeat. Already in this cycle and a long ways to go. With their outdated systems and software they are circling the drain. Nothing about this company is modern or cutting edge.
It’s a bank wide exercise so yes all business lines are doing the cuts. RIFs coming and it’s making me nervous again. No one should have to lose their job like this.
Is there any news on other business lines? The whole company got the "enabling our future" email about the reorg, but it seems like mostly CBB has been hit. I have some recommendations on who can be cut in other areas of the bank.
Best possible option would be for a more current thinking bank to take over this mess. Clean house and get rid of all management and start anew. The culture here is so poor and has been forever. The people that are in charge of the culture are toxic. Create a fresh, flat, streamlined, effective organization.
I worked there for 2decades. They are making changes to survive the digital push being created by younger demographics. The VC needs to get another consulting company other than the one he came from for strategic advice and phase in things more than jumping straight into digital. The baby boomer generation is at the cusp of retirement and there is a huge population that has disposable income that they are passing over as they have to be 100% digital right now. The recent CBB executive layoffs and hiring back about 1/2 of them if they apply is good indication of what they have in leadership right now. Many of those CBB people are at the backbone of what has made US Bank be very profitable in past 10 years. The culture has changed and if you will get people to be honest with you people are leaving in vast waves due to displeasure with CBB. You cannot say that bank doesn’t push its people to sell products when every week you are getting emails and reports that you haven’t sold this products or haven’t logged enough meetings. The requirements they want you to have are not obtainable and each week starts with a good email about what you did, few hours later you suck at your job, mid afternoon thank you for what you bring to team, and end of the day I have told you 4 times to input your customers and prospects daily—what is your thick head not getting or understanding. The managers have no clue what it takes to be successful and then trying to positively engage their teams. It will not get better until leadership understands they are wrong in their approaches or maybe the intent is to cleanse the higher salary/older workers for people that will work hard for 2-3 years and move on as the culture is toxic. Again people will see this as sour grapes but I retired at the end of last year and fine. The days of them caring about you and you working there 20-30 years are over. I hope they wake up before they lose about 1/2 of those hard working tenured CBB executives. I was once very proud to have been part of that bank now just an outsider wondering how long it will be before the board and shareholders clean out CEO and several VC but probably won’t happen as financial results are only achieved by closing real estate and reducing headcount. The revenue being generated will not sustain this bank and at some point which probably was last year, you have let to many people go for efficiency and overburdened those trying to work for you.
What department or position?