Thread regarding Union Bank layoffs

Vulnerable departments and functions to layoffs after the merger

I have been in the compliance department for about 2 years and reading about massive layoffs coming before and after the merger makes me very nervous.

Is compliance considered overhead and therefore vulnerable to layoffs? US Bank already has compliance officers and it makes me wonder if it is necessary to have compliance officers from Union Bank after the merger.

Any tips based on your experience is much appreciated especially as I am living paycheck to paycheck and cannot afford to skip even one.

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| 2725 views | | 9 replies (last September 15, 2022)
Post ID: @OP+1hcxknyN

9 replies (most recent on top)

They will keep you as long as they need you. After they cutover all the customers, watch your head.

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Post ID: @1xtcz+1hcxknyN

Go read the US Bank threads. Lots of layoffs recently.

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Post ID: @Jeyg+1hcxknyN

US Bank is going to gut MD’s and Directors from UnionBank. MUFG is going to downsize drastically as well, just do the math. Someone said earlier that MT has screwed up the acquisition..that is an understatement. Both groups of execs have no clue what they are doing. MUFG would be better off holding on to UB.

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Post ID: @tyyo+1hcxknyN

Well let the stress stop….. US Bank is going to cut a lot of the UnionBank folks and UnionBank is going to cut a lot of folks as well. Regulators are blind if they don’t see this. The acquisition is a mess. MT has made a mess of things but he is KC’s boy.

There now you can move on .

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Post ID: @cjex+1hcxknyN

Well, what else did you expect from end-stage predatory Capitalism?

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Post ID: @bizu+1hcxknyN

US bank is handling their layoffs quietly all this week many people lost their job. Not sure how long it will continue but the Enabling Our Future might be around for the next few years… their plan is to fire and automate and outsource as many departments as possible. They are disabling our future.

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Post ID: @6jzj+1hcxknyN

They are currently hiring for compliance positions and state the position will be moving over, as well as a large team, to US Bank when the sale is final (in a couple months). Would they hire new employees only for them to be laid off??

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Post ID: @5vnr+1hcxknyN

USBank has been laying off recently. Go read the layoff: usbank comments and you will have a better idea of the landscape you are entering with the merger.

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Post ID: @4wuj+1hcxknyN

Start looking.

I'm willing to bet they are going to shed Union Bank admin and compliance. They aren't going to have two seperate groups, they'll keep theirs and can ours.

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Post ID: @ylq+1hcxknyN

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