What is the outlook for layoffs at this point related to Risk Managment once the merger is complete? There seems to be a lot of doom and gloom posted about the merger and layoffs however Union Bank continues to hire more and more people.
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From all the current news, when is Legal Day 1 of the acquisition? Is the Risk and Control Office Information Security Governance and Oversight group going to be impacted by the layoffs? I know a few colleagues that were mapped to US Bank who think they are safe from the layoffs.
Word on the street is MUFG has hired more people than before the merger so look for a sl------r and US Bank is prepping for 60 days after LD1 RIF's. Everyones retention kicks in WELL after they will be let go. Good luck even getting it.
It was a pleasure to serve with you all.
And a special thanks to MUFG, USbank and both the US and Japanese government for screwing people so some politicians and CEO's can make more money.
MUFG will be cutting drastically. Not hundreds but THOUSANDS of folks.
US Bank will most likely layoff all Union Bank employees. They said they will be retaining all Union Bank employees so you didn't quit prior to acquisition. This is a huge write-off opportunity for US Bank. They have a proven history of doing this.
If you are in back of the house services such as risk management And the like, I would certainly not expect to be retained much longer after the deal closes. Of course I’m assuming the deal will close. Those are functions that US Bank is well staffed for. It’s much more difficult to lay off branch staff and close branches, mostly because of the bad PR that causes. The good news is, if you are laid off you will likely get a decent severance.
Remember this isn’t a merger, it is an acquisition. And union bank is the one being acquired.
If you are mapped to USBank. You will be laid off. If the deal doesn't happen, you will be laid off.