armageddon time for gazillion contractors in the ecio organization in mar and april ‘23. mark thy words, heard it here 1st!
Stay at home at your own risk
Wayne wants everyone back in the office. Directors and other leaders are already being pressured or required to come in as an example to everyone else. Coming into the office is seen as a sign of “engagement” and of “leadership” these days. If you... — read more
If anything is going to finally get me to quit and leave this wretched place it will be RTO. There is no need for it. None. Our productivity is just as good if not better currently. I can't understand why they would want to mess with that. I have no... — read more
Major UW losses but CEO pay doubled!
Per P&C specialist article, USAA UW losses were 2.4 Billion (more than the lizard) in 2022. But an article in SAT Express says CEO doubled his pay last year. All execs saw an increase in their salary last year.
Mortgage laid off 130 employees today
Major round of layoffs coming in Q1 2023
Just heard the rumors that this is going to be a big one right before the bonus season in Q1 2023...
Why does the USAA Board of Directors tolerate Wayne Peacock?
Wayne has totally destroyed the internal culture and is actively dismantling the IT infrastructure that drives this company. He brought in Amala who is essentially just a hatchet lady. She has brought zero ideas on how to service our members. Wake... — read more
If I put my notice in now (Feb 17) will I get my bonus payout? Or wait until payday? USAA is such a dumpster fire...
Now its back to the office three days!
Seriously, the offices are empty and we are not client facing. Does anyone have any real reason why its three days instead of two? Like the extra day os gonna do anything. No one’collaborates’ and eveyone listens to music while they work… — read more
2023 "Merit" Increases
I've been made aware that I will receive a 6.5% raise for 2023. While that may sound decent on the surface, I need to factor in the inflation rate/cost of living increase is also about 6.5%!! Therefore, this doesn't seem to be reflective of my... — read more
Management is the issue
What is wrong with these managers? All the bs comes down to the bottom line employees when it’s the manager not doing their jobs. Idk what to do with mine he made it clear from jump he don’t want his boss bothered so going to his boss is out the... — read more
The ECIO line of business plans to do a ~10% reduction in capital expenses, ~18% reduction in operational expenses. This WILL translate to a layoff of IT employees. Your projects will be cut to bare bones. P&C will also have to reduce expenses and... — read more
Layoff is a certainty
Managers have been asked to submit names of people who should be laid off. This is based on if you are doing "high value" work if you "performed well," or as we all know, is the most important criterion - if you are liked enough. At USAA, all things... — read more
Just follow what directors are doing
Be alert, watch them.
Expense reductions - be ready
There seem to be quite a few 'expense reduction' meetings - be ready for change. Projects delayed, funding cut, people changing roles. Don't think it will be just the other guy or CoSA. This looks like a substantial change in the way we do... — read more
It’s such a farce
Wayne and other leaders act like it’s about the members. I bought into this, hook, line and sinker. Does anyone really care? Or does it get lost in the middle? First line managers would rather support the cr---y vendors versus the members. The... — read more
Not renewing leases?
If leases aren’t renewed and it’s mainly claims in the office will people be wfh or paid off?
ECIO and a few other areas in the company are going through additional budget trimming exercises now. They're digging hard to cut more expenses. The previous expense cut a few months ago which eliminated contractors was not enough. In many areas... — read more
All Hands Dept Meeting!
CAE scheduled all hands department meeting right after employee meeting next week. Wondering what that means. Any thoughts?
Anxiety of waiting
Anyone else watching all the comments from different companies, along with the news of layoffs, and wondering when it's our turn? The anxiety is real waiting for the hammer to drop.
Budget cuts for some raises for others
Among layoffs and budget cuts, new hires are receiving salary increases (again!) due to “compensation review”.
More federal banking citations?
Saw a brief piece in the news on this. The article was behind a pay wall so I could not get the meat of it. I wonder what the impact will be on the bank.
Anyone else noticing the high level of departure in the 2nd line?
Any thoughts on bonus percentage?
Not for the big wigs, but for us peons…..
I think how our IT leader has stated that cost cutting will happen so probably jobs will be cut. If someone does loose their job, does anyone know what’s the Severn we package like for someone with 3 to 5 years experience.
Sure is Quiet Here
Does that mean everyone is happy and fullfillled?
Wells Fargo to USAA
So disappointing that many of the leaders that flopped at Wells Fargo are now moving into USAA pushing the same agenda. Burn and churn sad to say that’s their plan and have a lot of money thrown at them
Reduced project costs
Fortunately, I am working on a project for which the budget has not been cut yet. However, I wonder how many significant project cuts have happened at USAA lately?
I think that unnecessary bureaucracy does enormous damage to the company. Honestly, have you ever worked in a company that has a bigger problem with unnecessary bureaucracy than is the case here?
Return to Office for all
Seems people hired as remote are being told to return to office. No exceptions granted. If true, feels like USAA wants people to quit. Maybe to thin the herd before layoffs.
Worked 16 hours today and normal is 12. Most checked out at 1pm for early release. Could work 24/7 and still not be done or be thoughtful in my work. Manager does nothing but piles on more deliverables. Lack of accountability is astounding. Rework... — read more
New round of layoffs starting shortly
Just heard the rumors, second round of layoffs are coming shortly… possibly in September/October time frame This is going to be a huge one..
Wrong people were laid off once again
I'm not sure how they manage to lay off the wrong people every single time. Most of those who are shown the door are our best and hardest working employees. We have plenty of fat that needs to be cut. Plenty of lazy do-nothings who get away with it... — read more
Working in the office
Does anyone know how the company is monitoring if you’re in the office? Is it through badge swipes or do you have to be on the internal corporate network for certain hours a day?
Any news about possible layoffs?
Do you hear any reorg or layoff news?
I hate it here
It's not that I simply dislike working at USAA or that I'm burned out, I'm actively hating it. I'm sick and tired of the stress that comes with working here. I'm sick of the politics and sick of having to clean up messes made by my manager who got... — read more