Not to be overly dramatic but I work with quite a few people who are all looking outside the company. Some already have jobs while others are interviewing. The ones who have found jobs even got more money.
What happened to this company? When I started this was the place to work and I guess within the last 4 years it has just gotten worse and worse.
Any chance for a comeback you think or is this trend just going to continue?
I echo some sentiments of a previous post as one who was also let go - upset yes, bitter no. It helps this isn’t my first rodeo or organization. Employment is at-will folks. Do your best and stay if it’s working well,, but know any place can let you go for whatever reason at any time (that’s why I never buy into any “family” rhetoric). Control what you can and focus on that: skill-building, networking, have a complete LinkedIn profile and an attractive, up-to-date resume. Don’t be fearful but recognize this fact of working life. Presently the market is on our side as employees, so use that to your advantage for negotiations. Last time around I hired a professional resume writer and read up on negotiation techniques which has served me well. Overall I’m thankful for my 3 years at USB since I figure my market value has increased by more than 25K due to what I was able to learn and accomplish. Would have preferred to stay, but c’est la vie.
It's not just the non-digital roles they are cutting, they are cutting plenty of roles of those who focused specifically on moving processes, experiences, and branches to be digital. Enabling Our Future is just code for broad layoffs to enable increasing the bottom line.
I am one of the severed employees. While I am upset I am not bitter. I find it interesting some of the responses slamming US Bank and how the grass is greener on the other side. I am calling BS. ALL of the large banks are laying people off. COVID pushed customers to adapt to a new model, and banking is adjusting as well. Branch traffic is slowly dying. The need to go into a branch and fully disclose everything to get a loan is gone. Most of us as consumers are applying online as well, then pi---d the company is adjusting to self service. Meetings can be done virtually and include a much larger group than before, therefore is it really necessary to have 15 people doing the same thing? Why meet with a mortgage rep when a link to apply is sufficient? It’s time to accept the fact the consumer world has evolved. The banking world has evolved. Our roles have evolved. And if you think you can do the same job at another bank, how long will you feel confident? You are kidding yourself if you think one of the largest bank is the US is the only bank doing this and the only bank following this model.
I have been at the bank 6 years and when I started the US Bank was a great place to work. You really felt like the company cared and I was proud that I worked here.
When people ask now I don't have the same opinion anymore and I don't recommend the company to others.
I wish the company spent less time on their fake wokeness and instead spent that energy on improving morale. I don't expect anything to change or get better at this point.
The bank brings in trainees. If those trainees have about two years in, update your resume and put yourself out there. You own nothing to the bank. They are rewarding you with low pay and such poor working conditions. This company is circling the drain, no reason for you to go down with them. They will have no loyalty to you and your career. It's time to move on.
Remember that “enabling our future” is McKinsey-speak for “efficiencies and job reductions.” Job losses are being communicated poorly on purpose - no one wants someone forwarding an email to a reporter - so we’re left to figure out things for ourselves. If you’re not connected to your colleagues on Linkedin, do it now.
Remember to watch your back, try to watch the backs of others if you can, and be prepared to leave or be laid off with no notice. I cleaned out my cube already just in case. No personal stuff on company laptop, which we shouldn’t be doing anyway.
This is absolutely the right reaction. If you’ve not already updated your resume, LinkedIn, etc., DO IT NOW. Network network network! The people I know who’ve left are also now making more money FWIW.
Your employer helps you pay the bills. It’s not a family. You owe them nothing. This is a moment to take care of yourself and those who depend on you. Make that plan for your next step.
It feels like a war zone at the bank right now. Everyday I hear about someone else being laid off or calling it quits for all the reasons others have stated.
You know it’s bad when you hear about people who drank the cool aid, put in 20+ years, were USB through and through, and quit because of how bad the culture is. Or they got laid off and not even a courtesy announcement goes out to the team thanking that person for their years of service. No respect. Management has dehumanized the work life at USB and it’s far from cry from the company that used to value the loyalty, contributions, and sacrifices from their employees. The bank is rudderless right now.
Tim Welsh has been around for 4 years. Most layoffs surrounded programs he started.
It all ties back to when Andy Cecere took over......am surprised by how some don't put this together. AC is a vile heartless pathetic excuse for a human being.
I've had numerous people take a sudden early retirement. They've all pulled me aside and said this place isn't what it used to be and to get out ASAP. Other places would be worried about this. USB seems to thrive on this since at least one of the people that left, over a year ago, still hasn't even had their job posted yet.
It's an absolute mess right now imo. I've worked at USB for 13 years, never seen such disregard and indifference to employee morale. It must be coming from up top, we all know what rolls downhill. My sense is they decided to largely divest from traditional branch network, focus on digital and online, and attrite employees through layoffs, restructurings or voluntary separations. Ironically, the most talented and marketable folks are leaving, the dead-enders remain and pray for decent severance packages. I've had numerous informal talks with friendly colleagues about their careers (I'm a bit older but know people in various areas of the bank), and my recommendation is to get out and find greener pastures. It's sad really, but McKinsey consultants are de facto running the bank, so more fun to come . . . .
Bank leadership has been focused solely on the social issues percolating through and originating in Minneapolis/St. Paul, rather than looking for balance and continued focus on the expected business, banking, growth and expansion in a competitive business environment across the country, not every city and business market in America is struggling with the civic and social issues like MSP is, thus you see layoffs and job migration to Europe couched as "Enabling Our Future", which Bank leadership has always been charged with, but has fallen down on the job terribly, with unbalanced focus and highly questionable leadership in place.
I for one am actively looking and one of the ones the company doesn’t want to see go but they’ve cut way too far and I’m not waiting around for it to be me next time. USB is circling the drain and we might as well all get out before we have their stench on us in the future.
I agree that this used to be a career destination company but that left 4 years ago. In some ways, I feel sorry for those that didn't lose their jobs.
In my group when we heard people lost their jobs few weeks ago some of us came in the office to take our personal belongings home since we are now actively applying and interviewing outside the bank. Messy place to stick around… let them fall on their face.