Topics regarding layoffs at U.S. Bank

Topics regarding layoffs at U.S. Bank

US Bank gave $1Billion to help bail out FRB

This is after layoffs last year. Imagine how far a billion dollars would have gone if we had invested that into bailing out our customers; given them the tools and resources to become better earners for the bank.

Volunteer Unpaid Days Off

They started announcing that we can now take unpaid days off in my department. Seems we might be over staffed after they hired bigger groups starting this year.

Risk team

I saw a previous post that said Risk team employee will be laid off today. Any truth to that? What specific area with risk? And why the layoff, we’re non stop busy.

High time to prioritize things

*I know it's uncertain times but, we can only control what we can control. If it's too much to bear and for some it's understandable please, prioritize your health and wellbeing first. Maybe it's taking a leave and exploring your options outside... — read more 

WM&IS and supporting roles

How is the Union Bank merger going along with the SYSTEM implementation? Cuts will be happening soon. Those who were termed and rehired are likely on the chopping block. It is what it is. Tick tock.

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| 1571 views | | 1 reply (March 28, 2023)
Post ID: @OP+1lNWMrK2

Branch employees being let go?

What's the float branch manager and engagement manager roles? Are they just here until December? How about all other employees of branches being closed? What's happening to them??

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| 1490 views | | 1 reply (March 23, 2023)
Post ID: @OP+1lM2yd5M

Is anyone shocked?

https://www.msn.com/en-us/money/markets/big-short-michael-burry-sounds-the-alarm-on-two-u-s-banks/ar-AA18WsY7?ocid=msedgntp&cvid=abe88fb997984f93878d2fa619f1a00a&ei=11

Afraid of layoffs

The atmosphere is tense, plenty of rumors about layoffs floating around. I don't think I've ever been more anxious about getting laid off. You? I tried to find a new job but I got discouraged real quick. It's tough times ahead.

Rolling layoffs

Rolling layoffs at union bank have started. All hush hush so as not to spook employees working on conversion efforts. Several business and operations folks received notices today. Party has just started!

Another merger?

Thoughts on us merging with either Truist or PNC and becoming a “too big to fail” bank?

Union Bank Bankers

Have you heard of what’s going on with Union Bank bankers, Abms, bssos? What about the employees of closing branches?

The same thing as the 2008 crisis or not?

To the comment that this will be way worse than 2008 - that is utter nonsense. Banks are far better capitalized than they were leading up to the 2008 financial crisis. SVB had a mismatch of asset and liabilities. It is true that most other banks... — read more 

Hopefully we dont go belly up like SVB

Andy really has done a terrible job since Richard left. At least he doesnt do that side profile thing anymore on his "three things from Andy emails". But I still get concerned with some of his woke nonsense and considering we have slid down a... — read more 

UnionBank Employees- Leave Now

If you really want to manage your careers , read the tea leaves. As conversion is coming up on folks so are the layoffs. USB only needed folks to get them through conversion because their folks have no clue of what they are doing. . Even now things... — read more 

Union Bank Employees

The branches that are staying open and converting over to US Bank ... employees of those branches will have a job wit US Bank? Or you think they may lay off those bankers too??

Stock Prices

The stock prices aren't looking to good according to what I read. Seems to be trending downward... — read more 

Work from office

Is US Bank enforcing work from office policy like other major banks? Other banks are tracking ID card swipes when entering buildings and laying off remote workers. Perhaps they will start that after looming Union bank layoffs.

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| 1980 views | | 3 replies (last April 29, 2023)
Post ID: @OP+1lzUAC5m

Closed branches?

Was your branch impacted? If yes, have they told you guys where will you go or your managers?

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| 1232 views | | 1 reply (March 10, 2023)
Post ID: @OP+1lzXQ139

Mortgage

Only bank to not reduce headcount in mortgage. Got to think it’s coming soon.

Union Bank employees

What’s happening to Division Operation officers, ABM, bsso, bss with all these branch closures??

Over 100 Branches closing

What will happen to the those employees of closed branches? Union Bank and US bank? Will they make all of them all float CRCS??

Human resources

What are your thoughts regarding human resources; have you had to get help with employees related instances?

UPS package notification

I recieved an informed delivery notice from UPS that I have a next day air package coming from US Bank. Feels ominous. Do they typically mail the notifications?

Branch closures?

Did the employees of closing branches received jobs? Or they don't know where theyll be?

CRC Turnover

Why do some many CRC’s quit? It is a footprint wide problem. Pay, benefits, incompetent BM’/DM’s? I think it’s the latter. There are people in management here that would not last long elsewhere. Let the branch closures begin so we can get rid of the... — read more 

Is the severance policy no longer public?

With the constant chatter of layoffs around the corner, I went to the internal site to read up on the current severance policy. It used to be there but can no longer find. Anyone else experiencing the same and shouldn't this information be available... — read more 

Most Admired Bank/ Company?

From Forbes Within the Superregional Banks industry category, U.S. Bank topped the list in seven of the nine key attributes of reputation: People Management, Use of Corporate Assets, Social Responsibility, Quality of Management, Financial Soundness... — read more 

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| 1833 views | | 3 replies (last March 11, 2023)
Post ID: @OP+1ln4HfBw

“Greedy” Andy selling his US Bancorp stock

Andrew “Greedy Andy” Cecere Sells 84,948 Shares of U.S. Bancorp (NYSE:USB) Stock in a transaction dated Monday, December 12th 2022. Could this be a sign that even he knows that his bloody reign as CEO has run US Bank into the ground?

HUB Manager promotions

Seeing an uptick of Branch Mangers announcing that they have been promoted to Hub Managers. Is this a sign that USB will get rid of Branch Managers and have Hub Managers be in charge of multiple branches instead? Money saving move.

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| 1431 views | | 2 replies (last February 27, 2023)
Post ID: @OP+1lnV0X7R

Please don’t get complacent if you get a bonus

My closest friend at the bank for a hefty bonus last March and was laid off in June of last year. Thank god she was already looking and landed fine. After that bonus check hits your account don’t get too comfy, please. Keep your skills sharp and your... — read more 

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| 1784 views | | 2 replies (last February 28, 2023)
Post ID: @OP+1lmLLIWR

NDAs & Severance

Figured people might want to see this regarding NDAs for severance. https://www.cnn.com/2023/02/22/success/severance-agreements-rule-change-from-nlrb/index.html

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| 1505 views | | 1 reply (February 24, 2023)
Post ID: @OP+1lkOIyly

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