Thread regarding U.S. Bank layoffs

@an some of us didn’t even get 60 days. CC remote employees were informed on 8/19 that they had until 9/4 to either commit to moving to a compliance hub or be severed. If you choose severance, your last day was 9/18.

@q8 I could only assume your role went into India or Poland. The cheap escape goats who are ready to sell all the American information on the dark web. Maybe once a high earner or billionaires account gets hacked. Something will finally be done.

I can confirm. I was notified in August that my position would be eliminated and my last day was Friday. I know Risk was impacted as well. I worked in TPS.

This is the best thing that could have happened. I experienced bullying, intimidation, being publicly yelled at, talked down to, important information being deliberately withheld and having my work taken from me by people in TPS Product. There is zero psychological safety. Leadership not understanding agile ways of working making commitments that were impossible to meet and then undermining my reputation and blaming me when a date was missed. It is an incredibly toxic environment. I’ve been set free and they can’t hurt me anymore.

@kz No, some of us want the information that this site is intended to provide. If you're going to come here and vague post about a company with tens of thousands of employees across hundreds of subdivisions and give no details, the information holds no value.

@m2 Not Sunday - I been hearing for a few weeks about organizational changes and notices in the MPS area

@kz Today? As in Sunday?

I got confirmation of major layoffs/reshuffling/outsourcing today as well. The layoffs were happening in small batches over several weeks.

I noticed people come here calling people trolls and trying to bait them to provide more information about themselves. These are HR plants and probably got paid to find a bounty on posters.

@jk this is the consultant playbook. They come in and cut and cut and cut and make it look good and then when the company has lost all its talent and is destabilized they'll yeet themselves with their multi million dollar packages and leave whatever is left to be sold off in pieces because nothing is salvageable

We are all paying the price of the NFL sponsorship and that Adam Sandler movie. Sadly, those being let go are feeling it the hardest.

@f9 this. All stock growth has been cutting and outsourcing imo. We spent so much on acquisitions and marketing, there's no way we've genuinely hit positive.

@e2 the only info I have is that there are certain parts of technology that were told they had to cut by 20% but I do not know if that was through the course of this year or what the specifics are.

October we can expect to see more impacts as a general rule because they have to beef up out numbers for EOY and Q4 for the street and shareholders. The analysts know what Gunjan is doing though. They know that our amazing earnings are padded extensively by cutting staff.

@dz Have there been any confirmations of which areas will be affected in October? I've been seeing the warning signs in general for a long time, but they've started being more specific to my area of Elavon MPS. I've been doing my best to prepare for what seems like an inevitability.

@df Thank you! I appreciate you sharing that info.

@an this is where a lot of September's layoffs are coming from. October's will likely be more sweeping and immediate.

I'm so sorry (I understand there will be some who are not sad about this), and wish you the best in your job hunt.

@dc One way they evade a WARN notice is by having a non-working notice period. You are told in day 1, you don’t work for a period of time (45 or 60 days) and then you’re separated and start collecting severance. It is a fairly standard practice in large companies. That’s for the federal notice. Most states have laws that mimic the federal one but other states are stricter.

@an I have some questions I hope you'll be open to answering.

The WARN Act requires an employer to provide 60 days notice when that employer "lays off 500 or more workers (not counting part-time workers) at a single site of employment during a 30-day period; or lays off 50-499 workers (not counting part-time workers), and these layoffs constitute 33%
of the employer’s total active workforce (not counting part-time workers) at the single site of employment."

Are you aware of how many others were impacted? USB/Elavon loves to talk about "doing the right thing" and being proactive with compliance even when it's not required, but we all know that's BS. I've been with the company for almost 20 years and have known one employee who was provided notice. Most employees are laid off with same-day effect, which is what happened to that one employee's other team members, so we know for a fact they don't extend the warning unless required.

Did you post here when given the notice? If not, why? That is the purpose of this site. Were you not aware of this site at the time? If that was the case, did you post about it once you found this site? (I understand this may sound pointed, but I am asking to understand, not criticize.)

Lies

@an Which departments were laid off? I wish you the best of luck!

Elavon/MPS Ops

Several Elavon/MPS layoffs started/completed this week, some were publicly noted in "Org Announcements", several others were not,

@as LMFAO. Savage burn!!!

@a8 First hand information? Got it. So you were there with your hand up someone's backside is what you're revealing to us. As long as you were both consenting adults, do what works for you bro.

@an this makes more sense than OP. Good luck on your next adventure!

Yes - a large number of us reached the end of our 60 day notice today and were officially laid off.

I heard your dad had lots of dudes up his back end last night. First hand information.

Which departments?

Thanks for this ever so useful information OP TROLL. Get lost.

Troll