The article by T. Welsh is just plain BS. The only people US Bank kept were the tellers and customer facing. The other thousands of employees were told to basically go pound sand and very few were given an opportunity to interview for roles. It is a farce to suggest that US Bank was happy to have UnionBank employees on board.
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T Welsh is another McKinsey alumni. Overall US Bank strategy is to hire McKinsey alumni and then give McKinsey company strategic contracts to save them money (including layoffs) . Quid Pro Quo is alive and well.
There were job opportunities for some, the retail client facing Union Bank employees all converted over, however, the Float Manager positions are a complete farce. Most areas don’t need Float Managers. USB is hoping they will just quit. Not going to package them out so they can say they kept all front line employees.
OP is very incorrect. There are many UB people who were offered permanent roles at USB. Future employment is not guaranteed for anyone at any level at any bank or company in any industry. This is reality.
Link, or it didn't happened.....
Can someone paste the article on here?