Thread regarding U.S. Bank layoffs

@130 I saw project Greece on a doc this week. Is this the remote workforce optimization?

@130 The GCC's are huge with a lot of square footage. The complexes are gorgeous with a lot of amenities. How much space is USB Bank building out, and how many jobs is that 'creating' over there?

@OP yes - they are targeting remote but masking it under org simplification -it’s called project Greece.
Go to LinkedIn and read the news of GCC in India. They mentioned two cities. They got half the news. It’s in one of those cities Don’t expect Bank to be transparent
Expect many new leaders being replaced in wealth and payments.

@bp

You clearly haven't seen the IT coverups and damage "three offshore workers" (from third world countries with fake resumes) can do.

@bp I have 8 people on my team in tech that are overseas. Only 1 of them is not worthless. I would replace all 8 for 2 employees and get more done. Do the math and that is cheaper. My partner is in the same boat. Different company, loaded with cheap overseas labor. Almost all are terrible. Those companies pay their people terrible and treat them even worse.

If we really want to save money and keep productivity, allowing people to move into rural areas and work remote for less pay is the answer.

How would someone in HR know? They have nothing to do with business strategy. Nothing.

@bp bc ppl like me hang up when I get a foreigner and switch accounts

As one of my coworkers told me, a friend of theirs is a hiring manager who said "why pay for workers in the U.S. when we can hire three people for that same cost overseas?"

You don’t need HR to answer this. Pay attention and you have your answer.

Gunjan said we are an in-office culture. Gunjan said remote roles will naturally attrit and be replaced by hub roles. Gunjan said there’s 40,000 remote workers. You cannot mass layoff. You can give directives to business lines to have a strategy and that’s where you’re seeing a lot of remote roles being eliminated. They have to fill gaps before they can layoff more. So can we expect a continued squeeze on remote - yes.

Another no surprise, yes we are offshoring business where we can. Most major, Global, banks do.

There is always a strategy. Everyday, every month, every year. So yes, there’s things you’re not being told. There’s things HR doesn’t even know yet.

@ac i sure hope this isn’t an answer straight from HR. The fact that you are visualizing all remote workers in their jammies is slightly creepy.

To the mention of offshoring and another point noting not supporting the US. Isn’t the bank named US (United States) Bank? Maybe time for a company name change if the company would rather hire support outside the country when workers within the US are struggling enough?

I worked hard today remotely not in my jammies oppositely of how you seem to view us.

"2) Yes. The thinking is that if a role can be performed remotely, then it can be performed overseas. Why pay 4x for one of us to sit in our pajamas at home."

Puh-lease ... as if that's ever stopped the crooks up top. I can go to the office every single day for 20 years and still get eliminated for an overseas position as they cost less.

What I'd like to see if what do these senior leaders who come to the office do that requires to keep them around? I hear we have cheaper leaders available in India who are just as effective.

Quote: "2) Yes. The thinking is that if a role can be performed remotely, then it can be performed overseas. Why pay 4x for one of us to sit in our pajamas at home."

That's a reminder I really need to move my accounts to a smaller bank.

Way to support the USA moving jobs overseas.

1) Not a mass layoff, but smaller ongoing layoffs at the group or business line level.
2) Yes. The thinking is that if a role can be performed remotely, then it can be performed overseas. Why pay 4x for one of us to sit in our pajamas at home.
3) We are being told everything. Many people on this site don't like the message so they choose not to hear it.