Thread regarding USAA layoffs

Cut Wayne Some Slack

Has anyone on this website ever walked a mile in Wayne's shoes? Look at what Wayne has had to deal with as the CEO of USAA:

  • CEO tenure starting during worst pandemic in over 100 years
  • $85M fine from the OCC in 2020
  • $60M fine from the OCC in 2022
  • $140M fine from FinCen in 2022
  • $1.3B loss in company profits in 2022...the first losing year in the 100 year history of USAA
  • $12.7B loss in company net worth in 2022
  • Being forced to layoff over one thousand hardworking employees

These are tough times for Wayne. These are difficult problems for any CEO to deal with. The least the BoD could do was give Wayne a 157% pay raise from $1.9M to $4.8M in 2022.

All that Wayne asks is that employees come back in the office 3 days a week starting in September and 4 days a week starting in January. And all employees are free to work 100% remote until September.

#CutWayneSomeSlack

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| 2361 views | | 12 replies (last June 28, 2023) | Reply
Post ID: @OP+1nj4JZNK

12 replies (most recent on top)

#FuqWayne

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Post ID: @2sce+1nj4JZNK

@1zgb+1nj4JZNK

Dont quit your day job

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Post ID: @1pwc+1nj4JZNK

OP here. That was my best attempt at satire. I'm surprised so many people did not pick up on it.

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Post ID: @1zgb+1nj4JZNK

That was some of the most well written, bullsh-t I’ve ever seen. That tu-d is the head of the company and the face of it as well. He will get no slack whatsoever. The only break that should be cut for him is an exit out the front door with a box with his sh-t in it.

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Post ID: @cpb+1nj4JZNK

I sincerely hope that the main post is satire or thinly veiled sarcasm. If not, I want to see their shiny black boot collection.

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Post ID: @ytv+1nj4JZNK

Wayne makes lots more than $5Million. That’s just what the Insurance company pays him. He doesn’t have to disclose what the Bank pays him.

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Post ID: @rrk+1nj4JZNK

Come on people, the OP is just trolling, I thought OP was serious until reading the last section of comment about Wayne needing a pay jump from $1.9mil to almost $5mil for the trouble the company is in.

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Post ID: @xzr+1nj4JZNK

Like wayne said “he’s over invested in the employees “ and the other guy that said “its time to hike up our britches”.

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Post ID: @svk+1nj4JZNK

Just found this interesting tidbit --

"Labor experts and bankruptcy attorneys say the payouts [of handsome bonuses] are particularly egregious — and unjustifiable — during an economic crisis, and were timed to bypass a 2005 law passed specifically to prevent executives from prospering while their companies flailed."

“These are bonuses that unfairly enrich the very same corporate managers that led the company into bankruptcy,” said Brandon Rees, a deputy director at the AFL-CIO, the nation’s largest coalition of labor unions. “That unfairness is compounded by the fact that we’ve just experienced the worst unemployment rate since the Great Depression."

Thanks, Wayne, for sucking off a company that already took a huge hit from your mismanagement. Yes, you tossed us aside during a hard time in IT to find jobs. I hope you sleep well knowing that the world sees you for what you are.

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Post ID: @xse+1nj4JZNK

I want to administer a PIP to Wayne and his "team" for all of their blunders, mistakes, and greed!!!!

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Post ID: @nxd+1nj4JZNK

Listen, go sing it elsewhere. What did we do wrong? We worked hard, and then were screwed over so they could save severance packages (phony PIPs), unemployment (forced firings or quit), and force us back onto roadways for long commutes while poor Wayne received just a 157% pay increase???!!!!

If he wanted me to sing his praises, he would have GIVEN the company part/most of his salary like other truly noble leaders. He would've asked all employees to take a cut while we all put our shoulders to the grindstone to rebuild.

This, I would have admired. I sp-t in your general direction.

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Post ID: @ivg+1nj4JZNK

you must need some pretty thick knee pads 😂😂

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Post ID: @hcu+1nj4JZNK

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