Thread regarding U.S. Bank layoffs

New Presdient, Gunjan Kedia, and McKinsey

Gunjan Kedia, the new president, previously worked at McKinsey according to the press release that just came out in the news everywhere, which has been giving awful advice about layoffs, return to office, etc... Oh great. As if RTO and layoffs weren't already a certainty. Thoughts?

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| 2393 views | | 16 replies (last May 11)
Post ID: @OP+1sl2Zgs1

16 replies (most recent on top)

Maybe the strategy is to hire someone so terrible it will make Andy look less incompetent? dunno, but it feels like something Andy would do...all the while giving himself another pay raise and staggering bonus.

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Post ID: @8ukn+1sl2Zgs1

More terrible promotions. Having McKinsey on your resume should really negate you from any decision making positions. Everyone know McKinsey is an organization of Grifters that really don’t know anything about technology or the corporate world. They use their clients as Guinea pigs and try all these silly models that have never worked anywhere. Precisely why they will never put skin in the game. They know that the outcomes will not be anywhere near what the sold. When that happens they will blame the employees of the client. Just look at all the ex McKinsey folks in leadership positions at the bank. They must not have been able to cut it in McKinsey.

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Post ID: @8qnx+1sl2Zgs1

I swear they never promote the good people. Only mean , disconnected get promotions to keep rocking the boat.

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Post ID: @4fnr+1sl2Zgs1

Hey Peeps- let’s give her a chance. We all know by now that USB has grown bigger during the last two decades and owned by institutions Vanguard and Black Rock. We as the FTEs, will continue to believe, hang on for the wild ride and things will get better here at USB. Been here for more than 3 decades and a true believer.

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Post ID: @4qob+1sl2Zgs1

I am not an AC apologist. However, the comparisons to RD are not fair. RD became CEO to a U.S. Bank that was incredibly lean. I mean after the Grundhofer brothers, there was literally nothing to do but build things back up. For people that don't know about the Grundhofers, they were horrible and cheap CEOs of two legacy banks that merged into the U.S. Bank of today. There is an unsolved mysteries episode about one of them being kidnapped (probably by a disgruntled employee).
Anyway, AC inherited a bloated company with multiple layers of useless middle management. It's difficult to target older employees, so I think raining in the beast has been a difficult job for AC. Having said that he has. Made lots of mistakes and as many others have pointed out the McKinsey restructurings have been a disaster. God help us if a McKinsey person becomes his successor.

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Post ID: @3row+1sl2Zgs1

Is this becoming a Titanic moment ? Maybe ol Andy knows the ship is taking on water, he needs to exit so the blame can be put on the new President (soon to become CEO)

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Post ID: @2dpj+1sl2Zgs1

"She's very capable...the LOBs she runs haven't been successful, but she sure is capable." This is very essence of the problem with US Bank today.

For what it's worth, no one who actually knows these people would ever compare RKD with AC or Gunjan. Richard was an incredible leader. He was business-minded and could be tough when necessary. But he cared about people and no one I know who worked with him would characterize him as mean. Unlike AC who is a robot and demonstrably doesn't care about people.

But I guess you would call Andy "capable" given the total lack of performance the bank has experienced under his "leadership."

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Post ID: @1ljw+1sl2Zgs1

She is not a diversity hire. She is smart and capable. She can be very charming and she can be very mean. Just like Andy Cecere and Richard Davis. The bank needs new leadership badly, so the real test will be whether she can move the company into the future. I don’t think her business areas have been particularly successful in the past….

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Post ID: @1ggf+1sl2Zgs1

What a joke. Under Andy and the McKinsey consultants the bank put in Vice Chair roles US Bank is a now leader in absolutely NOTHING. The bank is a consistent underperformer and seems more interested in their social policy agenda than being a well run bank.

Gunjan’s reputation is that of a mean and abusive senior leader who is disconnected from employees who carry out the bank’s lack of a cohesive strategy. Andy has been a disaster for US Bank but Gunjan at the helm would make this poorly run bank even worse.

Why would anyone promote someone with this track record? The board needs to wake up and bring in real bankers who know how to operate a bank and fire AC and the consultants who have destroyed the company.

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Post ID: @1vur+1sl2Zgs1

She’s hard on people, and no this isn’t a great choice from that perspective, but anyone who thinks Gunjan is a “DEI hire” as someone commented here doesn’t know much about her or the business.

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Post ID: @1pzz+1sl2Zgs1

DEI hire and will bring in more and more that look like her.

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Post ID: @1auz+1sl2Zgs1

You guys watched John Oliver and McKinsey ? Look it up on YouTube, it’s everything wrong .

They laugh and joke about people losing jobs.
They know decisions will be bad, but they still tell clients to go through with it.
RTO anyone? McKinsey is evil, unless you’re senior executive, since they help increase executives paid, by firing us lobbies and laughing about it. evil

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Post ID: @wkh+1sl2Zgs1

This was a big mistake putting her in that spot. She feels everyone is beneath her, treats her direct reports horribly, has encouraged the offshoring of jobs to India, and despises WFH employees.

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Post ID: @zaa+1sl2Zgs1

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