Rolling layoffs at union bank have started. All hush hush so as not to spook employees working on conversion efforts. Several business and operations folks received notices today. Party has just started!
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Layoffs for non front facing employee was always a given. This shouldn't be a surprise since they stated it in the beginning when they took over UB. Wishful thinking doesn't supercede facts. Fact is any non facing is most likely being laid off.
First, recognize that your worth as a human is not tied to your job.
Second, absolutely recognize that if you were with Union previously and you’re not in a client-facing role this is a great time to polish up the resume and get networking if you’ve not been doing that.
Third, if you’re offered severance ASK A LAWYER TO REVIEW THE DOCS. It’s worth the money.
Good luck to all.
Folks issuing laptops have no connection with HR layoff approach. Like mentioned below US Bank has no strategy. Maybe you are the unlucky one that will get to work for US Bank . US bank middle managers/ SVPs do not want to offer you role because they themselves see competition from Union Bank (better paid and better qualified) employees. In some cases Union Bank VPs make more than US Bank SVPs.
Why did they send us equipments this week, only to lay us off and tell us to return the equipment 2 weeks later???? Makes no sense
For those Union bank employees jockeying to impress Union bank MDs with useless conversion paperwork that US Bank could care less about, guess what, these MDs will be gone soon. Additionally, these MDs take credit for your work in hopes to land a job. Do not waste your energy, instead look for a job for yourself.
Any news on retail employees? They haven't even announced it where branch employees will be placed yet
So anyone that isn’t client facing seems to be gone or will be gone
It’s a rough time for us job hunting with the recent banking crisis from last week
GFCD = Global Financial Crime Directorate
How do we return all the equipments that sent us now that we are gone by end of May?
Are they going to send us some return boxes?
What’s GFCD?
next 2 weeks is going to suck
Layoffs have occurred in Union Bank wires operations teams with GFCD team to follow. Folks received 60 + days notice. More layoffs to come after performance reviews are completed so they can (guessing) add the reduced annual bonus amount based on ratings to your severance to make it look attractive for you to sign. Some of us are looking forward to receiving severance based on Union bank severance package which is far more generous. Who wants to work for this cheap US bank . US Bank Salaries, bonus, pension and benefits are pathetic! Other benefits like paying for cell phone is gone too. Not to mention the disjointed US Bank organization with no clear strategy.
Tic toc ... all over.
Can you please disclose in what units/business lines?
It would be helpful if you shared what business lines or operational units were notified today. Otherwise this is just a rather useless post that just stirs up drama and speculation, which does not serve any valid purpose. Was that the point?
They were warned. I have a feeling layoff season will be brutal this year.
Hopefully it’s the Union Bank IT guy based in the NY / NJ area…
Which roles at Union bank? How about the retail branch employees?