The layoffs and hiring freezes are completely out of control. At this rate, we’ll each be doing the job of five people for the same pay until we just drop. What’s the endgame here - running everyone into the ground and then shrugging when there’s nobody left?
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All the down voting just created more views. Lol
I just up voted the OP’s post. Boo!
180 Resources laid off on March 18th ( Enterprise, Bank & Life). your position is no longer required ( repeated 4 times during 10 mins call by AVP in Bank) and we are making decisions to improve business. You have to transition all your work to your team mates and can log off for the day. ..... ( This was the convo during lay off ceremony). Felt helpless.. Harsh corporate policies..
Who what and how decisions happen?
From someone who knows, your assessment is accurate. Do a whole lot more with a whole lot less. Leaving would be wise because it’s going to get worse… this I know. As odd as this sounds, within a year or two they’ll be offering hiring bonuses …yup … I know.
They know it’s bad and very few want to be there which is one reason they won’t allow you to receive any 401k match if you quit before 2 years… never seen this one before.
What’s out of control are the downvotes. Facts sting a bit I suppose.
Bank aml is bloated like heck. Teams are finishing wayy ahead of slo hust by doing the minimum.
If they do more,, they will be even more ahead!!
Cant make this stuff up….
The bank is a complete sh*t show right now, but that’s what you get when you remain in house and select people who have no idea on how to run a bank.
Cutting severance to 26 weeks means more layoffs will happen from now until late September. Also be very aware, they need to shrink head count, so they’ll look for any reason to write you up.
Wayne got rid of EJS because he and his minions couldn’t handle the harsh truths. EJS was confidential but not anonymous, so the lame excuse they used was “we need to know who post what etc” was a crock of shhh, as HR had access to see who would post what, I know, they reached out to me many times over stuff I posted and wanted more clarification.
Part of the reason that this is out in the open for everyone to see is because P*cuck shut down EJS because it was too “toxic”. If they would have left EJS in place employees would be able to vent frustration internally but when it went away employees had to move to outside public places to express what’s wrong with USAA.
@ac+1jq73kv2b I wrote this post and it's so cute how someone down vote bombed it and the original post. Must be Wayne or one of his shills working overtime to do damage control. 😘
I remember going through NEO and thinking I had hit the culture jackpot. All of the messaging was so positive and I felt like I had joined a family. I was excited every day going into work even after the novelty wore off. The truth is USAA used to be great. Fast-forward to today and over the last several years I’ve been beaten down for the very things that were celebrated. leadership of today has no emotional intelligence or empathy. I was a part of the recent layoff and it’s made me feel like a leper. I feel like everybody leaving whether by choice or by force will need some serious therapy in order to rebuild the person that they were before experiencing such toxicity.
As a former employee, it feels like this is deserved.
I feel for you all. As a former employee, it hurts my heart to see what happening.
I do the job of three people so far. I’m surprised I actually get any work done during the day.
Much of USAA leadership …
The Peter Principle is a management concept that states employees are promoted based on their success in previous roles until they reach a position where they are no longer competent, as the skills required for higher positions may differ from those needed in their previous roles. This often results in individuals occupying positions they are not qualified to handle.
As a 50+ year member, this is hard to read. We’ve remained loyal to USAA precisely because of the quality service they have provided through out the decades (we remained members even when I was a Regional President of a competing statewide insurance operation). They better get their act together, or employees aren’t the only people they will lose.
We are so corrupt we aren’t even allowed to expand membership or offer basic products. The ONLY move is a slow bleed of firing until regulators are ALL gone (never) or another company buys us (we’ll all be gone).
You must understand that it's time to abandon ship. Those ba----ds let me go last year after 6 years of claims adjusting. I'm retired military and have been a USAA member for over 40 years. Why do you think Wayne bailed? He knew the ship was sinking and took his golden parachute out the door! Decided first, before they decide for you!
It should come as no surprise by now that USAA is trying to figure out the minimum number of people required to keep the wheels moving. Any more than bare minimum is an "over-investment." Fire/layoff/manage out first, deal with the consequences later.
Also, executives don't count. The company will gladly spend $1 million per year on an executive who can save them $500,000 in payroll for individual contributors.
It's incredibly easy for an executive sitting in another city or office to reduce headcount and not deal with the immediate repercussions. That falls on lower level management/directors to sort out. They can report to their boss that they're saving the company $x per year and will get a pat on the back, while everyone below them is drowning.
AVP/VP/SVP decides to lay off 20 people, saving the company $2 million per year in payroll (random example). They get kudos from their superiors for saving so much money. Those who remain are suddenly unable to make commitments. Productivity drops. The remaining employees and their lower-level managers get put on PIPs for not meeting expectations, so more people leave, productivity drops more, and the cycle repeats.
Amala and her Regions Bank peons are the worst culprits of this. Look up and down the org chart in ECIO and most senior leaders are now from Regions. Every time a tenured USAA employee leaves the building - voluntarily or otherwise - a piece of USAA's culture goes with them and is replaced by the mindset of a "leader" from a publicly traded company who only knows how to reduce cost. No mind is paid to increasing revenue or fostering a healthy employee morale. It's far better to keep the peasants scared for their jobs and livelihood.
It will come to a head eventually.