They keep taking and taking and never giving anything back. We've lost so much in the past several years, from relative job security to benefits to normal culture and so much more. So is there anything left that's keeping you here outside of the cr-ppy job market?
17 replies (most recent on top)
With this latest round of layoffs and how they handled it, nothing but a paycheck is keeping me here. Our CEO keeps saying that making our members happy is our top priority, now say this to unhappy employees with low morale
@ae when are layoffs supposed to take place?
@k4 Please name them. I was recently laid off and I have applied to several places and have not landed one job.
Thank you in advance
@k6 I’m thinking the same thing.
To cut cost they should layoff some of the EMG’s, but they won’t!
What’s keeping me here? The fact that another company hasn’t hired me. I swear recruiters have USAA employees on a spam list.
@a3 there’s a dozen banks right now offering the exact same (or better) pay, benefits, pto, etc.
I personally know of 3 Insurance companies that are superior.
TF are you talking about?
Healthcare. I don't even need the money, I could retire now if we had a decent public option for folks under 65 who can't get on medicare.
I truly hate what this country has become. We're slaves to billionaires and corporations.
The paycheck, that’s it.
I need a paycheck and insurance for my childs medical care. That and it is a pain in the as finding a new job at the moment. I am looking and have 800 apps submitted this far.
@a3 you must be very new. The benefits today compare to nothing from before 2019. Back then our benefits were “world class” and way above the industry standard. Once Wayne took the helm and surrounded himself with fired executives from WF & BofA, things started to change. The August 2021 employee meeting, a VP in HR said “we over invested in our employees” and now need to get in line with industry standards.
@OP USAA used to have world class employee benefits. Over the years, they’ve been chipping away at them to bring them “in alignment to industry standards”. At this point, I’m just happy to have a job - the job market is the worse I’ve ever seen . No one is hiring . I’m still looking around as the never ending layoffs are mentally exhausting .
Like many others, the poor job market is the main thing keeping me here. With the upcoming bank restructuring and needing to cut 5% of its workforce by end of Q2, that’s only going to add to the pressure and stress most are already under.
The weak job market is what keeps me where I am…but with upcoming big layoffs in P&C, we are all at risk so I am just trying to enjoy it while still can. Best of luck to everyone.
That’s the main reason, the job market is awful right now, and USAA knows it. The era of “see something, say something” is gone, if you speak up, you can pretty much guarantee yourself a spot on the next round of layoffs. For bank employees, when they announce the “restructuring” either this week or next, expect a big round of layoffs shortly after, mainly people leaders in Q1, then the worker bees in Q2.
Our genius of a bank president did no favors to morale when he all but guaranteed mass layoffs to start 2026.
If this were a publicly traded company, there would be no layoffs because it's employee base would be 3,500 to 5,000 employees less, before AI. That's the right size when you market base against our P&C competitors and bank. This company doesn't need much more than 30k employees. Especially since they aren't an industry leader in anything and no real innovation. They can't even copy Progressive's UBI model or GEICO's app properly. We are a 'copy other companies' rather than bold and forward. That is all on the BoD and execs. I love my boring job. I clock in, leave, and don't respond outside of working hours. Be grateful the id--ts haven't caught 20% of you all yet.
What exactly are they “taking”? For exempt employees:
8% 401k match
3% pension
A significant vacation bank that if you don’t use more than15 days you get paid out. In my career I’ve never seen this (20 years in financial services)
Yes, the continual regulatory issues are embarrassing. Yes, the multiple rounds of layoffs each year are worrying. And yes, the constant musical chairs of leaders is exhausting. But, USAA employees have it better than most employees in financial services. If USAA was a public company it would have been broken apart years ago by an LBO/PE company.