Any news?
8 replies (most recent on top)
From a customer's standpoint, this is a disaster. I can't believe the Feds let this go through. Shows you how "radical" and "lefty" the Administration is! (NOT!)
i've been with UB since 1980, and it says so on my checks. Well, there goes that perk.
Any news of the MUFG Union Bank employees in New York and New Jersey who were mapped to US Bank are being laid off?
I just read that US Bank is exiting the wholesale mortgage business of Union Bank. Any idea how many people are affected. ?
We’ll probably get word by the end of January because they know if they drop the news right before the holidays, everyone will just quit. Now there’s this big push that we’re still Union and “nothing will change” until March 31st. In US Banks most recent communications they claim they’ll give us 60 days notice of layoffs or branch closures. Lines up pretty perfectly with getting notice in January and getting laid off in March.
People are dropping like flies in my region. No one wants to stick around after LD1. No one wants to work Saturdays, lose their titles, lose PTO time, bonus eligibility, etc. After that big mangers meeting several weeks ago, they all started acting off, withholding info, etc. They clearly know something the rest of us don’t. Many in CA will be safe because CA is specifically what US Bank wanted, they’ve said it themselves in many press interviews / statements. OR and WA branches are probably toast.
MUFG will be looking at cuts, how can they not given they have lost a ton of revenue and funding with the sale of UnionBank. Look at what the analyst say. The ECA will cut their way to oblivion with no strategy or ability to run a company.
What about MUFG IT risk employees who were mapped to US Bank?
I heard Regional Managers know the branches that will be closing. They of course are not saying anything.