With the constant layoffs on top of everything else, everybody I talk to says the same thing: I'm only here until I can find something better. That's it. Literally, not one person I asked said they were not looking. What does that tell you about the employee morale and the overall state of the company?
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They're going to get rid of everyone at UB if they can.
Post merger. USB has 70,000 employees. I wonder what the combine total numbers will be after the merger w/ Union Bank.
100,000 plus????
Does anyone know????
USB is being strategic on how they approached these incremental layoffs/ soft layoffs. It is very interesting how they’re doing it.
It sounds like each department was given a task to cut positions. In some cases it was physical people, in other cases it was positions that are posting.
The great leaders will sacrifice a number to preserve the livelihood of their people, the poor leaders will always sacrifice the livelihood of their people to protect a number.
The antiquated technology, non-integrated systems ki--s the bank's profitable. These old systems are expensive to make look modern.
To the person who assumed I have a selective memory. Read my comments again. Clearly, where is the mentioned of USB acquiring First Bank system in my comments?
I said First Bank System acquisition!!!
I’m from the west coast and we all understood the acquisition. The USB CEO at the time of the merger was Gerry C, who lost his position after the acquisition and received a golden parachute., several millions!
The person who thinks that US Bank acquired First Bank has selective memory. First Bank bought US Bank and adopted the name because they thought it was more attractive. And then US Bank merged with Firstar Bank... That merger was the beginning of the end for the Technology Organization (TOS) at US Bank. The Firstar people thought that US Bank staff was beneath them and are still choosing them for cuts over incompetent former Firstar employees.
All about the U.S. Bank leadership and their wholesale inability to compete with their regional peer group in America, such that they have to export American jobs to a country very highly subsidized by the European Union, paying people 1/4 of what their skilled, passionate and talented American workers cost, absolutely a moral disgrace, trust the large institutional shareholders are paying attention to their investment being ported over within a few hours of the Russian Army.
Pretty sad they are out sourcing American jobs to other countries. All about greed.
This is business. Nothing personal being laid off. USB wants to stay competitive and grow. No one safe. It’s about continuity. USB will continue to grow the business and adopting to the current economic environment. I started with the Bank since 1990 and manage to remain employed. I remember during the First Bank System acquisition. Laid off staff got 4 weeks per year worth of severance. So transitions are going to happen.
I’m not looking to leave. I make good money in my current role. Severance would mean squat for me because I’m income based. I started working here 8 years ago while I was in college. I never used my college degree because no one offered me what I was making at USB. I’m hoping the layoffs will be over soon so we can all get on with our lives. There will be cuts in my department (I heard it was supposed to happen but nothing yet) — but our eliminations will be production based, so I feel good.
Yes anyone who’s got a brain is looking to leave.
I have stuck here at Elavon through so many layoffs.over 21 years...I am waiting until I get a severance.
I know some that have been with the company over 20 years. They say they're too old now to start over at a new company and are hopeful to squeak by long enough to retire. Aside from that, everyone I know is updating resumes, LinkedIn, etc or actively looking. Personally, I'm writing this while in a parking lot waiting for the place I'm about to interview at to open.
May someone at USB see this and realize the miserable, hostile environment they've created by utilizing outdated equipment, understaffing, and institutionalized layoffs.
I’m here until they sever me or until I can retire. Whatever comes first 😂