Thread regarding PNC layoffs

The Real Price of PNC’s RTO Decision

Let’s stop pretending this five days a week RTO mandate is about collaboration, culture, or productivity. We already proved, clearly and measurably, that productivity increased while working remotely. During the pandemic, employees kept PNC stable, profitable, and operational under extraordinary circumstances. That wasn’t leadership from the top, that was workers carrying the bank on their backs.

Now the “reward” is being forced back into offices to sit on Teams calls all day, while absorbing thousands of dollars a year in new costs - gas, parking, commuting time, childcare, daily life friction - in an economy that’s already on fire. Wages haven’t kept up with the cost of living in years, people are stressed across the board, and somehow the solution is to make life harder for the people doing the actual work.

Let’s be honest about what this really is: empty buildings, tax incentives, sunk real-estate costs, and executive optics. Cities are upset. Balance sheets are uncomfortable. And instead of adapting to a proven, modern way of working, PNC chose to protect assets and executive compensation - at employees’ expense.

This decision makes one thing painfully clear: PNC doesn’t care about its people, its so-called “family,” or the reality employees are currently living in. It cares about making top tier executives even richer, no matter the cost. That isn’t leadership. It’s greed wrapped in a RTO memo. 🖕🏻


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| 2514 views | | 19 replies (last February 27) | Reply
Post ID: @OP+1keyk0kjr

19 replies (most recent on top)

This is all very intentional. AI is a priority to Bill and people at PNC are being told they must use it. The employees are training their replacements without even knowing it. They are doing so under the impression of efficiency to help them in their roles.

Bill has not mentioned PNC values in ages, our employee appreciation weeks are nothing now. They are now virtual scavenger hunts on your own time, with a free PNC umbrella, and he certainly isn’t showing he values us employees. As we receive our maximum of 2% for exceeding goals, at the cost of our friends at work losing a portion of their 1.5%. The team average must be 1.5% if you have an exceeds you must take part of the 1.5% from someone else to give the exceeding employee more. Bill is getting his millions at the cost of all of us. We do not matter to Bill, or any of these executives other than to train AI then we will be dropped.

Bill needs to publicly hear people’s about planning to replace us with AI, ever decreasing raises, expectations of loss of wages by RTO costs, all while taking in millions for himself. We are told to be thankful for our 1- 2% . Days later we receive a quarterly earning email showing the billions they made and emails about all the money they have donated. Employees are struggling to make ends meet because cost of living is rising significantly more than double the percentage rate of our annual increase. They know the banking job market is sketchy now with AI on the horizon, and they can do this to us without fear of losing the employees. They need employees today to train our AI replacements.

Bill, knows he makes money off our high performing employees, and he can get more money if he takes our salary away. So he’s focusing on AI, he’s mandating we use it. He’s mandating we teach it how to take our jobs by feeding it our work a few tasks at a time. Once we have trained it, they have tested it, and rolled it out, our highest paid employees will be let go. It’s obvious you need less people if AI can do our job faster and cheaper. All so Bill can make more money, and he can see billions more in profit. AI is even being implemented where the bank is tasked with important things like AML, Fraud, front line customer service. What happens when AI makes a mistake on AML and misses something big?

PNC Customers, Pittsburghers, and anyone else, we need you. We can’t speak up ourselves or we will be fired. We need you to stand up, scream at the top of your lungs on social media. Scream to the world on social media, and anywhere else, you will leave PNC as a bank, you will ensure no one you know banks at PNC if they continue the AI. Tell them, you and no one you know will get a loan from them, credit card, business product, invest, etc. Let them know, you will ensure you and everyone you know does bank with PNC if they decide to stop using AI, and keep the humans in the U.S. employed. Show them, they have the ability to be the number one bank if they keep us employed and treat us right. Show them, the way to more profit is actually keep your neighbors, family, friends, etc employed by dropping this AI shift.

When AI takes these roles, it hurts everyone. The employees will need jobs, won’t have funds to pay bills and survive. They may enter your line of work, making your need less, your pay lower. When tons of people need jobs, jobs can pay less, this hurts us all, not just PNC employees. We must stop PNC from moving to AI. It strays here, we can then take a stand against this, and stand against it everywhere.

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Post ID: @6dt+1keyk0kjr

Working out is good for me; I don’t do it 5 days a week. Eating vegetables is good for me; I don’t do it 5 days a week. Reading is good for me; I don’t do it 5 days a week. “Relations” is good for my marriage; I don’t do that 5 days a week either (anymore). Productivity/collaboration/partnership yeah, all good for us but never done 5 days a week. Stop rationalizing and call it what it is, sir: you’re tired of counting days and not knowing where people are. You’re managing to the lowest common denominator, which is fine…. Just say it. We’d appreciate the honesty.

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Post ID: @149+1keyk0kjr

Don't forget. PNC is also greatly ramping up its outsourcing to India. They plan to eventually have as many employee in India as they do in Pittsburgh.

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Post ID: @jv+1keyk0kjr

This is well said. I’ve been with PNC for many years, and this is the first time a message from our CEO has made me feel that employee happiness doesn’t matter. Lol can’t wait for my Compensation meeting , hopefully I’ll be gone by that time .

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Post ID: @bx+1keyk0kjr

@av This guy is actually CTO at the company if anybody wants to know

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Post ID: @bh+1keyk0kjr

@ab loss avoidance, clp, aml, teller returns stay remote

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Post ID: @b1+1keyk0kjr

YO PNC is stupidito af. They're gonna lose so much talent. GET FU---D MY FRIENDS AT PNC WHO PLAY RUNESCAPE ALL DAY HAAAAAAAAAA.

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Post ID: @av+1keyk0kjr

no one on my team is in the same state, we are in eight states. I am trying to figure out how we're supposed to collaborate.

Its a soft layoff, self-selected. And Billy made the email up clip-able and unprintable, has too since they lieed to the press.

And lets talk ethics and this push has a lot to do with him being on the PGH downtown revitalization committee.

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Post ID: @aq+1keyk0kjr

Layoffs are confirmed to be coming. I talked to an executive and she said once the dust settles in this they are coming again.

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Post ID: @an+1keyk0kjr

@ab It's not affecting most customers service and operations folks. Primarily because PNC has already or will be rolling out Verint PC tracking software to those employees to track every second of their computer usage.

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Post ID: @ac+1keyk0kjr

@a9 which part of retail? I know people under retail that absolutely have to go in. I wonder which other departs or orgs are exempt....

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Post ID: @ab+1keyk0kjr

Not everyone is RTO, Retail org was not affected. It's not fair across the board like they claim.

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Post ID: @a9+1keyk0kjr

PNC doesn’t reimburse parking, right?? Like I’m expected to pay to go work?

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Post ID: @a7+1keyk0kjr

Well written. But let’s be honest, NO ONE is pretending this is about collaboration or culture besides the executives. I genuinely do not think a single employee thinks that is true. Not one. I have been here before. Big merger -> RTO -> Layoffs. Not to kick ourselves while we are down but I would bet layoffs are going to hit within the next few months after Mays RTO. Worst part is we are all going to be competing with each other for the already abysmal job market. Do not put up with this. Get out.

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Post ID: @a6+1keyk0kjr

AMEN!!! WELL SAID!!!

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Post ID: @a5+1keyk0kjr

Time to Move my $$ from this bank.

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Post ID: @a4+1keyk0kjr

Well said and completely agree! Wouldn’t be surprised if layoffs were inevitable so this is how PNC gets the best of both worlds. Improved portfolio as well as a “soft” layoff.

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Post ID: @a3+1keyk0kjr

@OP work is what I do, not a place I go.

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Post ID: @a1+1keyk0kjr

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