Just saw Truist is calling back all employees to 5 days a week. It’s getting harder and harder to find flexible work options https://www.bankingdive.com/news/truist-rto-employees-in-office-5-days-banking/805291/
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Truist purchased buildings. Probably a lack of tenants leading to loss on real estate investments. Thus give the employees back in. Same for Chase and new HQ.
@aj They dgaf about good employees. Current leadership views top talent and industry experts as a threat and they've been yeeting them out of here all year. Can't have potential whistleblowers around jeopardizing their fat bonuses for successfully transforming business processes into cover-ups for shady practices to turn a profit while the regulators are in a stranglehold. Plus they can use the open job requisitions to bring their pals over to high pay grades even though they have no transferable skills.
The new definition of a "good employee" is someone who does what their told and shuts up about it, while simultaneously st-----g leadership's ego. See also: Bootlicker.
They get off on the psychological manipulation of forcing honest, hardworking laborors into sheep to keep their jobs and then subsequently gaslighting them by proclaiming company morale is at an a time high. F this place.
Awesome title! Shame on Truist.
Never say never. With all the layoffs there will be enough space soon enough for 5 days in office!
@b7 they're not going to invest in real estate. That costs money. They're not going to spend money.
@aj this is exactly it. People don't trust that they won't be laid off in a new area so if they have any amount of security they're not leaving those jobs. USB does not have a good reputation in most of its hub markets and the only thing that could possibly draw in talent is a staunchly hybrid work environment. They also don't trust that they're not going to get laid off if they relocate to a hub in the hopes of a new job.
@bp WFH will be back one day and corporate executives will be groveling for talent once again. The demand for labor is cyclical. Employees will not forget how they were mistreated here and when the labor market heats back up, expect an exodus.
My point wasn’t the USB would move to 5 days, I think that would be a very long way off if ever. My point was it’s getting hard to move within the industry and keep a remote or even flexible job.
U.S. Bank can’t have everyone come in 5 days because in many hubs, there just aren’t enough seats! They’d have to invest in real estate and I don’t think they want to do that. I guess they could get rid of enough people that the ratio goes down…
@ar Our Branch Managers are delusional thinking that Bankers from large companies would work here. If anything, a banker from a larger firm would take their job due to their incompetence.
There seems to be an automatic, embedded assumption that USB can just grab talented people from the big 4 banks above them, which is slightly delusional. High performers at the big 4 aren’t going anywhere, and for the ones who are available, there are very good reasons why they are available. The “Up or out” mentality is still very much in place at the big 4, so in effect what USB is doing is replacing talented, non-hub performers with middling performers from other banks who agree to be chained to their desks. I have yet to see someone from a big 4 bank come in and get things done. Most are happy to be anonymous and take the premium paycheck USB foolishly offers them.
@a1+1k9yqnvn7 It's a double-edged sword. If USB places too many employees on a PIP all for shrinking it's headcount, they're going to lose a lot of good employees. The juice won't be worth the squeeze when they lose a lot of talented employees all for the sake of chasing quick profits.
RTO is not a long term strategy for quiet layoffs. USB is already having issues filling hub specific roles and it's luck will run out soon enough because people are not uprooting their lives and families to come work here for suboptimal pay at suboptimal conditions.
JPM and truist are sweatshops. the pay is below market and the technology is dated from the early 00’s. These are backward run companies with trash culture 10x worse than USB. 5 days a week in office and leaving early is career su----e. You won’t be tucking your kids in at night at either of these banks. They both pay you $2 and expect to get $5 worth of work out of you.
chase gives RM’s barely enough spending to take clients out for a bagel and coffee. They expect you to cover the cost. That place is a joke and attracts the worst personalities. think matthew mcconaughey wolf of wall
street pounding his chest. Used to look
good on a resume; now nothing special.
Pass on both companies for me.
Maybe...maybe not but I can tell you that u.s. bank is having difficulty filling positions that are hub only and they are currently making exceptions to some job postings and allowing remote work.
It’s all a way to get people to resign and avoid severance. If USB does not go the five day RTO route, we’ll dramatically increase the number of employees on PIPs to shed headcount.