Thread regarding U.S. Bank layoffs

I’ve come to realize that GK is not going anywhere. Check the stock price. Investors are thrilled. We’re the only ones who are unhappy. If I don’t get the layoff this year I think I have to accept it and move on or adapt.

I am staying because JR is hot hot hot

@dq I used to think it was more coincidence than collusion but McKinsey and BCG are driving large swaths of banks' AI strategies. Take a closer look at the credentials of presenters and the references in the slides used in the AI meetings. They're not even hiding it.

Because Gunjan just arrived in her contract role a couple years ago but she managed to destroy morale real fast. It takes time for us to get out. Our team lost at least 6 people this year because of this bi---h and her destructive behavior. Many are looking to exit.

Spite, I exist to be the friction that slows progress.

@dv 10 years; role was specialized and back-office, but transferable within the industry.

@cy how long were you at US Bank before you left? what type of role?

If another bank were to be encourage remote work, pay nearly the same as USB and have a healthy work culture, people would head there in masses. No bank is offering that though. Collusion.

@ah same. I have a bit to go and keeping eyes open but sticking it out for severance if possible.

@d4 yep. I'm getting downvoted for it, and that's fine. I prefer being able to actually use my sick days instead of just looking at them in my available time off because I know if I use one more I might end up on a PIP for having the audacity to get the flu.

It's pretty common everywhere else (even unionized jobs) that you accrue sick time via hours worked. I'm grateful we have the ability to accrue as much time as we do. Don't get me wrong, this place is trash to work for compared to how it used to be but we do have generous PTO packages. It's one thing you'll never hear me complain about.

@at I don't miss those days either. 'You have sick days but if you use them you're fired.'

I left but I was lucky-a former colleague put in a kind word on my behalf to the hiring manager of my new job. I've never looked back. I used to be a proud U.S. Banker: swag in my home office, USB coffee cup in the kitchen, the whole nerdy company man schtick.

At the risk of giving advice too freely: your network is your net worth. Keep in touch with former bosses and coworkers.

Another thing to keep in mind is that while there are thousands of banks nationwide, there might not be any good roles where you happen to live, especially if for what you do, the larger banks may have actually a worse situation.

Not mutually exclusive…I’m a multitasker. I’m complaining and interviewing at the same time.

@an I've been here for a really long time and I remember the days pre-SSL. Where your absences were tracked on a rolling 12 month basis and if you had... 3 occurrences within a certain period of time they could fire you for it.

I vastly prefer the sick leave policy we have now. But, everyone has their preferences.

Those bank employees who work in TOS and have been at the bank 20 years or more are some of the sadist people on the planet. So beaten down. They accept any nonsense and say thanks, can I have another. Life must su-k for these hopeless creatures.

@ag You have not been there long enough. US Bank used to give 10 sick days upon employment, immediately. Now, you are required to earn them. If you are really sick and/or there is a health issue, they will not inform you that you have short term disability even if you are part time and do not qualify for FMLA. Instead, they will threaten you with lost time that will eventually cost you your job due to unexcused absences if you get to that point. In other words, 'they' don't care about your health. disgUSting Bank. Customers are suing US Bank. Can you imagine a bank making a customer sign a non disclosure agreement that you cannot say anything bad about them? They are the bottom of the barrel and they will eventually get absorbed. Chase has stock in them and many other high profile corporate entities. US Bank is a "nothing" bank. I was embarrassed to work for them and people cringed when I told them where I was employed. People trust banks, they are supposed to be "ethical." disgUSting Bank.

At one time they forced you to deposit your paycheck with their bank, they were eventually caught and had to end that practice. However, they have not changed, they still try to get away with anything they possibly can -- disgUSting Bank.

https://topclassactions.com/lawsuit-settlements/lawsuit-news/us-bank-boa-class-actions-accuse-companies-of-stifling-customer-rights-to-free-speech/

I am exiting soon for a better opportunity after 6 years here. I have felt the culture here change immensely over my time here.

I am going to a well respected company in Minnesota that is already treating me better than US Bank and I haven’t event started (20% raise on top of other benefits). The culture is also know to be one of the best in the area. I am not leaving for my ideal role, but to get my foot in the door. It’s a gamble, but one I’ve decided is worth taking.i I did know someone who referred me so I had an “in”. Good luck to everyone else out there!

Most employees are now on Cash balance pension, so there’s no golden handcuff. You get 4 percent contributions to your pension.

I plan to retire soon after 30 years, I am hoping they lay me off so I can get 1 year servance. I know many co workers are looking, but it’s a horrible job market.
Unless you know the hiring manager, it’s tough getting a job now.

I feel fortunate to be in my position, but I feel bad for all the young people struck in this dead end corporation where people have no future and your job will be off shored soon to USBank India.

It wasn’t always like this. This was once a great place to work. I am very fortunate to have worked here 30 years and even more fortunate I will be leaving this horrible workplace soon where MC treats you like garbage.

I am sorry for the young people struck in this bank, they deserve better

@ae what former sick policy bit the dust?? We've had the SSL program for a long time and it literally hasn't changed. What are you talking about

I left disgUSting Bank and I was close to 15 years of employment of which I earned every penny. They were not worth the rest of my health. They don't want to pay pensions, like their former sick policy that bit the dust, pensions will be more difficult to obtain while they try to force those out getting close to a bigger payout or get rid of you before you are close to becoming vested. Remember, this is a company that took away your bonuses, promises raises and then, you don't get one! Who wants India managing the mortgage on their house in the US? GET OUT! disgUSting Bank.

The job market is sh-t right now. I’m holding out for either a layoff to get my severance or for the job market to improve.

I have been looking now for a year. Just got rejected for what would be a demotion (level 3 vs level 2 of this job family). I meet and exceed expectations and yet some company thinks I can't do the job. The last time I looked for a job before all this, I applied to 5 jobs, 5 interviews, 5 offers, I chose this place. Completely different market then. But forget about me for a moment.

I also know of an outstanding employee in a certain role in the bank who everyone (who knows what they're doing) knows who this engineer is. This person really knows their s**t. Expert, strong leader. This person has been searching for a long time and can't get any traction. If they can't, then something is wrong with the market.

Have you paid any attention to the news over the past 3 years? Maybe it's because there are 1000s of people laid off all searching for a job. Go to LinkedIn and click any corporate job and notice how they all (the ones I click) say "100+ people clicked apply". I hear of HR recruiters that sit near me in Lunken say they get 300-500 applicants for 1 good role. Something is wrong with the unemployment graphs when I hear news all the time about steady unemployment but then go see all the news of "company X laying off 8000 people".

THE JOB MARKET SU-KS!!! Some of us are trying but can't get any traction. Between layoffs and outsourcing to our overlords in India and Phillipenes, I think it's time people realize the American Dream is the frog in the boiling water and it's starting to boil. But hey the stock market is up, am I right? The investors are happy, hoarding more and more money.

@OP The direct manager and team are great. This used to be a great job and I hold out hope that it returns to how it was before the MC completely changed the culture. However, that might be the same reason some abused spouses stay with their abuser.

Complaining is free. Starting over somewhere else isn't.

…. And there’s a lot to complain about.

Most ppl I know here who are "stuck" are a mix of a) enough tenure to where a layoff would be a financial windfall, b) not nearly as good or in demand as they believe themselves to be and they can't find an exit or c) combo of enough seniority and savings to DGAF.

A and c are nice probs to have. I'm kinda there and it makes being on this sinking ship way less stressful. It's the only time I'm appreciating being an old fogey now

GK has only been around for 2 years, that’s where the majority of the US Bank culture has gone into a tailspin. The job market has also been complete a$$ since then given the layoffs across most banks. Believe me no one wants to be here and if were offered anything close to what they make now would be gone before you could blink.

Not sure what you're talking about. I know a dozen people who have left, and into a bad market. Turnover here is becoming extremely high for a bank that built it's reputation on life-long careers.

Sure, our turnover looks good compared to Nike, but that was always our brand. Now it's not.

I am not sure what is behind the loyalty either to a company that likes to find ways to lay off so easily... I have seen people with 20-30+ year tenures get let go without batting an eye.

@a1 .....and I forgot to mention specifically: I mean that I HOPE to get laid off in 3.5 years for the reasons described. I would volunteer at that point.

Job market su-ks right now. For ex, it would currently be hard to find another G14 role making 125k plus and have them match LTI.

I am trying to stay for 3.5 more years. That gets me to 15 years of service where the severance policy (as it exists now) changes from 1 week per year of service to 2 weeks per year. Combine that with prorated bonus payout, LTI payout, and a few more years of the cash pension contribution and 401K match and I'm good. I'll be close enough to normal retirement age that I won't need to find a comparable job (or any job) unless I simply want to.