Does anyone know for sure?
Any leadership that can anonymously confirm?
Does the manager provide a list of names - ie. Told he has to cut 2 of his 10 people or whatever?
Or does it happen above his head?
Just curious
I’ve fired people before that were on PIPs and had known issues but never done layoffs
High severance employees are always targeted. These actions need to be exposed at the state, national, and media levels with appropriate accountability for conduct not becoming of corporate responsibility. Other banks in these threads have started forums already to contact attorneys, state regulators, representatives, media, anyone that would listen and expose the targeting , fake PIPs, ethical concerns, low performance reviews as a form of harassment to fire people, etc.
I was on a JAR and I was targeted with excessive amounts of work, which made each day unpleasant and they removed support such as senior support, like the ability to ask questions, imagine being in a compliance role and you can’t ask anyone questions when you got stuck. HR su-ked lollipops. They had no clue. The excessive work drove down my productivity but I still exceeded expectations but not by a lot. The manager, or wannabe manager was violent with me, and I reported multiple times to ethics. They did nothing. Don’t ever, ever go to ethics. They do nothing. Call the police and get a recording of it on your manager.
Again, HR su-ked lollipops, Ethics su-ks. USAA su-ks. I got stuck a lot during my overloaded work days. No supprt. Tell that to OCc.
@1pq I don’t believe anyone and nothing matters anymore. Let’s see how long I survive. Planning to quit in couple of years unless they lay me off first. Lol
Don’t believe EDs (and above) when they tell you they didn’t know. They did and they selected you. HR may have given them selection instructions that gave them plausible deniability, but they knew. Maybe they selected 5 and HR cut that down to a specific 2, but they knew.
This was planned since the start of last year, first sign was cutting bank severance in half. If you can bypass all Michael Moran’s corporate jargon, he keeps saying we need to get “leaner” and he doesn’t mean our physique’s. What happened this past week, is the first big hit, next round of hits will be end of Q2 and final hit will be like last year, start of Q4. When I saw 2 of my colleagues leaving Wednesday in tears bc they got impacted, I immediately starting looking to get out of bank and looking externally when I got home.
Those who get to meet with consulting companies are usually ones make the call…definitely not Directors or even EDs and in many cases high-pay-grade AVPs or above
@c2 thinking back, they definitely had this planned for a while. I remembered when they switched the focus from production to quality for a short month and then suddenly switched it back. I heard the day they laid off AML staff, a new org chart was already distributed.
@ee Interesting thing is there were 3 people with the same title and the one who was paid the least was laid off in the round before this. The theory of laying off the highest paid at least has a thought logic behind it, but what I'm seeing in our area is very random.
Has anyone else seen or heard from a coworker/colleague who started getting targeted with PIP’s and warnings? What led them to get there? FMLA? Remote work?
@OP majority of the time, this is decided by someone very high up in HR with help from a 3rd party consulting group, for this most recent round it was BCG (Boston Consulting Group). They gave our genius of a bank president the idea of restructuring and if 2 people are doing close to the same job, layoff the higher salary employee.
Those decisions are way high up. Directors and managers not involved. Sometimes not even EDs.
When one of my employees was laid off last year I had no input whatsoever. I didn't even know he had been laid off until he slacked me in the middle of his meeting with HR to let me know. He had about 14 years with USAA and had no dings whatsoever on his record. He had been classified as a meets expectations in his prior annual review.
When half of my team (along with myself) were laid off back in October, they laid off one of our few high performers in the same way; same situation with the other teams who were cut by half(ish) - some of the folks let go had been recently acknowledged as high performing employees and had been put up for promotion in the previous cycle (after going through the entire promotion process they ended up cancelling all promotions at the last minute). For my team member, her salary was right around the mid-point for her role and she was at 1; not even a senior or a lead.
Some layoffs have been handled differently than others. A majority of them are at the “AVP/VP” level with input from your ED/AVP.
Your director is also inputting information but more unknowingly. More related to what projects your team is / is not working on. Skill sets on the team. Etc.
The other approach has been this weird algorithm that was conceived from McKinsey that HR used and it was very “top down”. It’s been said that this algorithm is still used as a start of a list on the “who” and how much budget should be laid off for each unit. But now VP/AVP have more discretion on The Who on their lists, but not the how much.
AML knew everything all along, as early as late November 2025. Wells, Milner, Rountree in AML were well aware. Wells was making all the decisions. Mostly loyal BOA people remained. The rest, including remote, were gone. Definitely a numbers game. People were sharing some crazy stories. Blood bath in multiple offices for sure! This is just a beginning. There is more coming up in Fraud Ops and other departments. These leaders are snakes. Watch out and look for work ASAP.
Yes, I’m curious too. I figured it was mostly bc I was here a decade, remote and highly compensated relative to my team (and possibly my boss). My boss and I had friction, but were still pretty respectful to each other. Given how widespread the cuts were, I figured it was mostly a numbers exercise at the top, and if my director did have a say, it was secondary to that.
I was told Thursday morning of my role being eliminated, when I asked the ED how this decision was made, he had no idea how, just said he was giving a list of names and to have us scan a QR code he was given, which was to employee relations.