Layoff appears to be happening quietly this week. I have just received notification of being laid off.
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@4xbf+1pBoESoK
Toxic people somehow are always able to maneuver themselves into leadership positions.
@cxys+1pBoESoK
MUFG also offshored to India. It was a massive disaster.
Yes, layoffs are done in phases to avoid any undesirable presses, or as someone mentioned elsewhere on this chat, to possibly circumvent the Worker Adjustment and Retraining Notification (WARN) law governing layoff notice requirements. To be fair, layoffs seem to be happening everywhere, but this feels particularly targeted against the MUFG employees. This has been the agenda all along.
If it’s any consolation, MUFG or 300 division employees who were laid off before December, 2023 received the severance package under MUFG which is more generous than the USB package. I agree with the sentiment that USB culture is toxic.
What are the severance packages look like for employees with more than 3 decades?
TOS threw in the towel a few years back. They work daily on how to offshore every possible bank position. They should just outsource all of IS.
Feels like the bank wants to either offshore everything to India or bring people from India here to work. If you’re from India, seems you’ll have great opportunities at US Bank; if you’re not Indian, no chance of growth. At least in TOS.
I never knew how bad it was till I left. There are much better opportunities out there, no matter what USB wants you to believe.
Lucky ones will get severance. Smaller banks pay much better than big banks. So do not look back. US Bank never funds their bonus plan 100% so those banking on getting a full bonus percentage can continue dreaming. If your grade is X and it says your bonus will be 30% based on your grade, guess what reality is it will be much lower than that next year. Continue to be Nickle and dimed . Better to take severance and run from this bank.
What is going on in ISS? 3 high level execs left in a short time.
"hilariously outdated tech" love this comment. All TOS does is patch, re-patch, and add more layers on top of old technology to make it look fresh. Always wanting the fastest, easiest fix and not the correct one. Technology at the bank is just an old ball of bandaids at this point.
The well is poisoned at US Bank. Everyone knows it, but nobody has the ba--s to move into another organization (I did) and PROACTIVELY find a better future. Most are waiting for that stupid-4ss 25-25-25-25 bonus structure to keep cranking every March... Guess what? The grass is much greener outside!
Do not work in a bank with arrogant people in leadership positions, senseless products, lagging bureaucracy, hilariously outdated tech, incompetent management and hopeless supervisor layers. Find a great role in great companies. You decide.
Dealer Services was hit too.
What divisions??
Retail next….?
I was also. 300 my division.
Got the layoff notification today too. Several under Shemer’s org.
As the bank circles the drain, layoffs never end.
What divisions?
Firings happening via Microsoft teams calls . J Carroll did the same. These folks do not have the guts to do face-to-face meetings.