Wayne will continue to fail as long as he continues to say and believe that “the most important people in USAA are the VP’s and above.” Wayne and the Executive Council are disconnected from the USAA way, employees, and reality. Some of the most important people in USAA have left or are in the process of leaving. Most were not VP’s and above. The VP’s and above love Wayne because he keeps giving them large unnecessary bonuses while the rest of us worry if we will still be employed tomorrow. Just imagine how many jobs could be saved if large executive bonuses and the continuous large over the top events were to stop. Did we really need Harry Connick Jr and OneRepublic performing at the 100 year party when the 2022 forecast called for a loss? Was the holiday party necessary? The CEO and EC love to talk about doing the right thing with the members money. I do not believe that the members approve of the lavish events and large bonuses being paid out in a year where a large corporate loss occurred. 2023 has continued the major layoffs while the lavish events, travel, and Executive bonuses continue. The CEO and EC positions are here to lead by example and be role models for employees. Start being role models, start promoting a positive culture, and start listening to your employees.
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Please add to that list, the CIO. She laidoff thousands of 3Ps recently, plus those 500 very talented emps. And rumor has it that there's more layoffs to come or immediate natural attrition, whichever comes first. Well, I am already seeing some high caliber engineers on the move. The great thing is that USAA has been a breeding ground of talent, many have been hired by FAANG. Just sad that ECIO morale has gone down since the new CIO has stepped in.
USAA currently has the WORST CEO and CHRO of all time! Congratulations!! How does it feel to be hated by the entire company and be THE WORST in the history of the company. You both should be so proud of yourselves for being so incredibly abhorrent and out of touch with reality. Be proud because it’s only a matter of time before this circus is over. Once we get slapped with another consent order AND a second consecutive year of losses, there will be no choice but to get rid of the toxic cancers in the EC.
The CHRO needs to be fired immediately. Inept. Clueless. Pathetic.
There was no need for that 100 year celebration, which turned into a huge covid super spreader event, with many testing positive. I wonder how much they paid One Republic, then Harry Connick for that private VIP party on campus.
Wayne hasn’t had an original thought in 30 years and takes advice from people who lead other firms that have been hit with millions in regulatory fines and had to be bailed out by the government during the 2008 recession. He’s not the brightest light bulb in the box.
$500 flight (average)
$250x3nights 750 hotel
$500 rental car
$400 food
$250 incidentals
=$2400/week/exec
328 remote execs
52 weeks in a year
$40,934,400/year (at a minimum)
has anyone figured out how much it costs to bring all those remote execs to San Antonio every week? Most don't live in San Antonio so we are paying travel and lodging 4 days/week for them