I am seeing people mentioning around 600.
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It wasn’t just the bank but Compliance too
~205 people. I saw the list.
They don’t count contractors in their total hire numbers as they are not considered employees of USAA. The bank president said the total number of hires in the bank specifically (I didn’t catch it but recall it was around 1500). Take it you weren’t on the call?
What happened to USAA’s goal of more TRANSPARENCY with employees? Liars!
Considering WARN - Over 500
The Worker Adjustment and Retraining Notification (WARN) Act in Texas is triggered by the following situations:
Plant closings: When a plant closes and affects 50 or more employees for at least 30 days
Mass layoffs: When a mass layoff affects at least 500 full-time employees
Approx 600 people were laid off this round. Since November of last year the Federal Savings Bank (FSB) has eliminated over 1400 positions. The company will claim it hired 8k employees, but this is across the broader enterprise and not in the bank. Most of those roles were customer service, contractors, and temporary employees.
The 600 number was made up by someone who had no idea what they were talking about. Real number is less than 300.
The number being tossed around is close to 600, saw that number on Reddit and on Fishbowl.
I’m going to check when FFIEC FINANCIAL REPORT comes out in November and compare changes in total number of bank employees from Q2 to Q3. That will give a rough estimate since bank isn’t hiring much according to Mike lmao
No one knows actual number. Interim bank president refused to give exact number that are affected