Thread regarding U.S. Bank layoffs

@24h there's very little response to our internal listings as well. Nobody wants to work for us.

@24h I went from proudly claiming "I work for U.S. Bank" to mumbling "I work as XYZ for a large bank". Oddly enough, no one bothers to ask which bank ... LOL!

@10g - Replying to my own comment, looks like a few of the job listings were pulled and reposted as hybrid, so maybe it was an oversight, after all. Based on LinkedIn listings, they're getting very little response to these postings. What a sad evolution to what used to be a great place to work.

@10g checked internal postings and they're still listed as hybrid. Oddly enough there are a few that are even posted as home based that are new.

For what it's worth, I left on good terms a while back but have kept an eye on postings to see if there's anything interesting open, and this week, I've noticed a pretty glaring change in the job postings - while they used to specify that hub-area employees were expected to be in the office three days a week, the postings are no longer mentioning hybrid/remote status, at all. Could be an oversight, but I'm noticing it on multiple postings that used to include that information, so I'm wondering if they're leaving that open to the possibility of a full-time RTO push. The posted pay range also appears to be slightly lower than it was, just a couple of months ago. Doesn't look good, but in this absolutely terrible job market, even with almost 20 years under my belt at U.S. Bank, a university degree, and a glowing resume, I'm getting absolutely no traction in my job search after months of applying, so I would definitely recommend holding out for layoffs or keeping whatever job you have, until you can line up a new job somewhere else.

RMC is prone to make up meaningless numbers connected to remote and speculative risk and then when the risk does not materialize (which the specialists in that area classified as remote/speculative) and that meaningless number does not arise as a loss or other significant financial obligation, RMC claims victory, wins awards for avoiding a hypothetical risk of biblical proportions, hires another layer of risk or compliance specialists on top of the subject matter experts which told you these risks would not materialize and the business continues to stagnate, becomes gummed up with inefficiency and sluggishness, primarily because you've got RMC cluttering up what was once a viable, growing and expanding banking and payments franchise.

But when the bank gets rung up by the CFPB, the Fed or the OCC, RMC remarkably claims they were not brought in early enough to make a difference in that regulatory and compliance space.

RMC was ridiculously overstuffed. I was on a call about a minor CIT issue and there were ten people from RMC on there.

Performance reviews are going to be brutal. They fully expect a numerical distribution of needs, meets, and exceeds. Plus, promotions that were once a forgone conclusion are being rejected.

@eb hope they make an investment in better equipment because they’re about to see a whole influx of medically required ergonomic HR requests. The set ups now are awful, and the hubs are starting to overflow, too.

@dx I've been hearing about the IP monitoring for in-office coming and was wondering if they're going to put an hourly minimum on it. For those people that are salaried and have been adhering to RTO and making it work for their day, this is going to be devastating. I'm one of those people. Coffee badging for me is a waste of time but 4-5 hours is a solid amount of time to collaborate and be present when you're the only one from your team in that hub. Just fu--ing leave me alone and let me work.

I've also noticed that they removed a lot of the language about making up days from the FAQ at some point in the last few weeks so I'm guessing it'll be mandatory 3 days a week with days made up if you are sick.

@dx yes all of this and I heard the same too on IP monitoring. I had also heard pay scaling differences on hub vs remote. Which is where it feels like there’s this silent push out of remote employees. The company has to be careful because we advertise as a pay for performance. Recruiters and leaders actively tell people we are lower on pay scale because of our comp plan. If you change that without notice and suddenly say meets expectations is a low or no merit, that’s a massive massive PR nightmare. Even for those who don’t have a target on their back by the company standards.

@dp the whole joke here with this company is that it is absolutely true that HR has made a significant effort to really focus on accountability. They're doing radical candor training, releasing all kinds of articles for managers about performance management. Building out reporting dashboards for managers. I'm also hearing rumors from good sources that IT is putting something on our work computers to see how long we are logged onto the network inside a Bank building versus logged onto the network at home or outside of the office. And that they're going to require 6 hours in the office on your office days in 2026. Also hearing Ramping up of sapience. I know for a fact leaders in HR are big supporters of big brother watching you with sapience. I heard her say it. Ramping up the micromanagement in Big brother but not returning the favor by rewarding people who played by the rules and perform well.

When it comes time to rewarding people who are doing good, not a damn thing changes. We have the same cheapskate pay as little as possible. New hires are targeted for 90% instead of midpoint.

This bank is now in a new phase for sure, a new phase of a company's life. We are now in a nastier for cutthroat phase. Some call this late stage capitalism.

Repeat after me. Big Investors are the only people that matter. We are expendable cattle. Mooo.

@dp I don't know about that but one thing is for sure HR has not updated the salary ranges yet like they done every December 1st for years.

So there's a decent chance the ranges stay flat (e.g. min, mid, max for a grade and geography level).

@dp I think that unless you're really visible or made the bank a bunch of money you're basically seeing nothing for merit. It's one more way to break people's spirits to get them to quit.

@dn The performance process is being heavily scrutinized this year. Leaders are having more discussions about ratings among teams. Feels like they are now finding ways to play down performance. An invisible high performing bar has been set that no one new existed. Also, buzz that compensation will not be distributed the way it has been. Possible meaningful performance getting no raise.

@db would you be able to elaborate more on this “overhaul of performance reviews/comp decisions”?

I have a manager up the line from me who is generally caring and wonderful person. He has done a lot to support his people over the years. When other groups were having hard times, we were still in good spirits. The life seems drained out of him now. He passes on messages from the top, stammers as he does and you can see the pain in him. I expect him to retire early if this storm does not pass. Most of the people directly below him have moved on to greener pastures. Truly sad how much the culture has changed.

Stock and profits are up from this time 2024. With clearly mass amounts of restructure AND layoffs this year, plus an overhaul of performance reviews/comp decisions - there is zero reason why our merit and comp wouldn’t be funded appropriately this year! If it’s lower, they are full of bull$*t

@bk that's kinda what I figured but I just wanted to be sure that people need to specify. Saying "risk" is vague and not helpful lol

@bk What group in her org? Can we get more specific on here.

Laying people off at Thanksgiving is bad enough but in December? Totally heartless yet they expect us to keep working at full capacity or more to get the job done and continue to smile and pretend everything is ok. It’s truly sad what this place has become.

@aj RMC as in JR's org. Email to certain people went out today.

Too bad us bank won’t be able to grow with no employees.

@a7 you've really gotta specify which part of risk. Are you talking credit risk and collections, or risk management and compliance? Because those are two totally different orgs that have vastly different employee structures

@a4 I had heard risk was going through massive change and still some to come.

Just waiting for either a) bonus or b ) layoff while doing the bare minimum.

Edit: They want the STOCK to go up.

Typo, sorry.

Look at the big picture. Wall Street and investors are demanding growth and growth and more growth. They want to stop to go up regardless of what the economy is going through. They want to see endless cuts to maximize profit. The CEO was selected because she has a background with MacKenzie a cutthroat consultant firm who is notorious for only knowing how to lay off and nothing else. She's cold, ruthless, and that's what the investors want.

This is the next stage of a company our size when it gets this big. They are helping on becoming a big Bank like Bank of america. The Union Bank purchase was a failure. So they are desperate to make the investors happy and if that means ki-ling the culture that was going really well for decades, oh well. We have to make the investors happy. They are the only group of people that matter.

We are in the famine phase (feast or famine) and we are staying here for another 5 years minimum.

Welcome to corporate America. Staffed by India and soon more automation and AI. 1 person doing the job of 5.

Oh did you know risk management laid off more people this week? Even freaking risk management is getting gutted more and more after all the layoffs pre-december.

Andy and Gunjan legacy. The beatings will continue until morale improves.