I know people are divided about the topic but heard a few days ago that there’s a big push for RTO next year. Anyone with the designation of hybrid will be asked to come 3 days a week. This isn’t a rumor anymore and a definite thing. I personally don’t mind it and actually prefer it, but I understand why others don’t. I suspect people will start looking elsewhere.
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Is Workday not working??
FYI…
USB stock price 7/31/2015: 45.21
USB stock price 12/14/2019: $48.75
USB stock price today: $40.97
$40.97 today.
Buying Union Bank and handling the December 1, 2022 Go Live Date and Integration, the way AC and the Vice Chairs did, obviously has not helped USB to positively influence investors.
Weekly, monthly, quarterly, and yearly layoffs haven’t helped either.
Every business line has had layoffs in 2023 and so far in 2024.
The word is out, USB is in trouble and even McKinsey can’t save it.
Thus, USB is slowly adopting Wells Fargo’s plan to eliminate 15-20% of their total workforce by instituting the HUB mantra, RTO, and hopes many people will resign on their own before more mass layoffs begin across all business lines.
Granted, part is due to the Fed’s decision to keep the high rates into the Summer months, but USB’s internal issues UB purchase, mishandling of Workday, New Digital App, Elavon, and other implementations, are of their (AC, VC, Exec Management)’s own making.
More layoffs are coming very soon, so buckle up and get ready to be told ‘although you do great work, we need to eliminate employee counts and you were affected’.
The mandatory RTO including making formerly remote employees drive 30-35 miles into the office each day (limit is said to be 30 mi but many emps 31-35 mi away are being told they too are now hybrid), the HUB sys WF uses, the lack of promotions, minimal merit, and lower than usual bonuses, are all part of AC’s plan to combat the falling stock price.
Anyone who thinks this is business as usual or ‘we are bankers, get with the program’ are id--ts living in the past.
It’s Q2, 2024 and only negative developments will continue into Q3 and Q4.
Expect large layoffs between the end of Q2 and start of Q3 even if the Fed lowers rates as they have stated they won’t move more than a quarter a point and emps need rates to go down at least an entire point, to keep their jobs and that ain’t happening in 2024.
Thoughts on the recent mandate we received from upper management with regards to RTO?
Get your popcorn ready!
I highly doubt that if you are remote or hybrid that always worked from home you’ll have to come in to the office but it does sound nice to those who will actually have to come back so they feel they’re not alone. Pretty sure like everything in the bank it all depends on your department or manager.
If they force hybrid employees to return 3 days a week, they need to do the same for remote workers within a certain distance from an office or branch. Need to be consistent/fair with this sort of thing. I’ve been in the office 1-2 days a week for the last year and I can say it’s almost always pointless. I get less work done and the bank gets less of my time.
Bank leadership is a complete joke. We get plenty of directions because they are lost and going in every direction.
Person who's been in the office 3 days a week since August here. Responding to the person who made the snarky comment. Nowhere in my post did I say I did not want to interact with my coworkers. I do it every time I'm in the office. But my job requires minimal interaction with others. Whatever interaction I do have can be done mostly through email or Teams. And a lot of the people I deal with aren't even in the same office as me. So please tell me what the point is of going into an office? The company claims it's for "collaboration". But how much collaboration needs to happen in my job? Almost none.
I got out and found a job at a smaller bank. Much better pay !!! US bank is second tier bank and tries to emulate big banks. Except low salaries cannot match big banks efficient processes. Also unlike big banks, US bank lacks decisive leadership and do not know what they want and rely on McKinsey too much to tell them what they want. Prepare yourself for constant change in direction. From moving to cloud , now it’s move to AI and no one understands either and how to do it. Stop pretending!
Be thankful you have a job, it’s not all peaches and cream out in the job market.
Get on board or get out.
Whoever wrote this nonsense:
"USB still a great Bank to work for and the stock price is up! "
USB stock price 7/31/2015: 45.21
USB stock price 12/14/2019: $48.75
USB stock price today: $45.18
The stock price is a bad as the bank itself. Stay away from US Bank from every angle. Don't touch with a 10-ft pole.
What is the status on remote employees, are they returning to the office? What is the message being sent to hybrid employees that are ignoring the three day in the office request?
What is so terrible about 3 days RTO?
You are Banker. Adopt, Accept and be a Team Player like you’ve always been.
It’s a smaller matter and adjustment. We use to commute to work 5 days a week M to F, and now it’s only 3 days a week. It’s a gift, do the math Y’all!
USB still a great Bank to work for and the stock price is up!
To the person in 3 days a week since August, the fact you don't like it and don't want to interact with your colleagues says more about you than the company.
Post ID: @ify+1pXvbzpT
Being 100 miles from office?
Wait till they do what Wells is doing. Those not in a hub city and designated remote , were let go first.
I've been in office 3 days a week since August. I don't like it at all, and a lot of others at my office feel the same way. A lot of us are in jobs that don't interact with others, so don't think there's any reason to be in office.
Management at the bank is loaded with yes people. Boss strokers that have never added anything to any conversation. Your co-workers now see you like this. Part of the useless class. The official meeting goers crowd.
I work with a bunch of dudes who I have noticed ever since I got promoted have been a little hostile towards me. Not sure why since I work my butt off while they just do the bare minimum. Anyhoo, with that promotion came quite a lot more money.
Not sure why I am telling you all of this...I guess between not having to go into the office to do the same thing I can do at home and all this cash I guess I am just pretty happy with everything.
Does anybody know with our disability plan, does it last longer than 2 years?
We have a person on our team that was promoted to a senior role that she’s unqualified for and is coded as hybrid. She gets paid more than the rest of us, doesn’t do much to differentiate herself AND gets to work 100% remote. What a crock.
Isn't hybrid 3 days a week in the office right now?
I quit
I'm currently full-time remote and am at least 100 miles from any US Bank office, so shouldn't affect me.