Thread regarding USAA layoffs

Why are they now providing beer and wine at the holiday party?

What about the "secret" executives only holiday party: will they have entertainment? I assume alcohol is served there as well. The peasants can drink fruit punch like kindergartners.

NOT A COVER BAND!!! welcome to Colorado Springs and the land of cover bands and Djs for over the past decade— dude, thousands of people at other offices have never been to a USAA holiday party with a “name” band- get over it

OP, use the bonus for a decent concert pls

I guess your cover name is correct, you are a donkey.

Why are you complaining about a band for the holiday party the bonus you will be receiving on a site for people who have lost their jobs, income, and benefits? The layoffs continue, but you choose to come to this site and complain about every benefit you are receiving and, in some cases, even state others deserve to lose their jobs. What is wrong with you people? Do you think it is funny that people are losing their jobs? The entitlement show here is ridiculous!

Every single year people say “cancel the holiday party and give us more bonus.”

Let’s say the holiday party costs $10,000,000. That’s just a guess, but seems like a reasonable number to start with. Maybe it’s more, maybe it’s less. Even if they divided that equally among all employees, it would translate to about $270 more per person. It would be much less than that for most people because the bonus is based on salary.

That’s hardly worth it to me. Thousands of employees enjoy the holiday party each year and it’s a morale boost for them. Employees are in desperate need of things that help morale. Plus, let’s be honest, if they canceled the holiday party, do you really think they’d pass that along to employees? That would go straight to EMG bonuses to reward themselves for “making the hard decisions to cut costs during this challenging economic climate.”

You can disagree with the holiday party as a matter of principle while people are being laid off, and that’s perfectly reasonable. But the fact is that this is budgeted for a year in advance. The company already has those dollars allocated. It’s a shame that the bands are some no-name cover band when we used to have some decent big-name performers like Train and Journey, but it’s understandable that they’d reduce expenditures on that given the focus on cost-cutting. If they can reduce the holiday party cost from $15m to $10m (again, just a number pulled out of my a-s), that’s a financial win to them.

I don’t personally enjoy the Christmas party because it’s dry, and because it’s just generally stuffy and boring. I don’t even drink much but having the ability to have a couple drinks would help people relax and enjoy themselves more… but that’s an entirely different issue altogether.

Honestly, cancel the holiday parties and beef up our holiday bonuses... blows my mind that people see this event as a perk. Maybe that's just the introvert in me, but dang, they spend SO much money on food, decorations, the band... you honestly want them to spend MORE on a flashier band? For one night of what... status? Getting to say your company had a cool band at their holiday party?

I will never understand, lol.

Jeez, so much fake news in this post. Like others have said, the bonus is happening so stop with the BS.

As for the cover band, that's not a big deal one way or the other. Last year's Stones cover band was really good, never heard of this year's. I'm betting Wayne and his minions will get a private performance by a big name while wailing about the employees needing to tighten their belt loops.

As for me I'll probably skip. I really don't want to hear his phony speech and platitudes - his true character has been exposed. People warn him about an incoming iceberg, he tells them to shut up and go make him a frozen margarita with said iceberg.

Yes, the holiday bonus was approved, it’ll be paid out on Dec 7, unless your EMG, you’ll get the bonus.

Now, for the Holiday Parties, like others have stated not only on this site, but in PULSE meetings and other social media sites, just cancel them! Mass layoffs every quarter this year and word going around home office, the layoffs will continue at least until 3rd quarter 2024.

And once again, a cover band is playing at the big San Antonio Holiday Party! My team and most everyone in my department has already said they won’t be going. What for, to fake smile to others, and see everyone kissing up to Wayne and praising him like he’s done this magnificent job! When they fail to realize he’ll cut/slash benefits to line his pockets before he jumps off the titanic.

First) stop with the drama: the bonus was approved and will be paid with one of paychecks in December. And B) E7 is a very good local covers band. I seen them at a bunch a places and they should of played the 100 instead of one republic.

@qtp+1pjdN1of
The holiday bonus is one of the biggest perks the recruiters use along with the year end bonus. When I came over back in 2011, I declined the offer (due to the low salary), only for the recruiter to bring up the holiday bonus and the year end bonus (also telling me the bonus would NEVER be below 17%), so I agreed to the lateral salary pay. When they sent the email in 2021 canceling the Holiday Party, it said “here at USAA we like to do things big, and with the pandemic and increase in Covid cases, we’re unable to do that this year, but looking forward to bringing the Holiday Party back in 2022 and having it bigger and better than before.”

And with all the changes that have happened and will continue to happen, the year end bonus, that’s obviously changed now, and it wouldn’t surprise me the least, if Wayne is still in charge next year, if changes are made on the holiday bonus, whether it’s 40 hours of pay or discontinued all together, or HR makes it performance based (if you’re on a verbal or were during the year, you get only 50%, etc).

The entitlement of some of the USAA employees continues to be absolutely unreal.

I came from a large bank where there was no holiday bonus or holiday party. Go find another company where the holiday party is up to your liking. Good luck 🍀

Not everyone worked for the bank, nor did they receive a year's severance. Trust me, not everyone is doing "OK". Posting about a dislike of the band for the USAA party and bonus is not appropriate on a site for people who have lost their jobs and benefits!

For all the naysayers on this thread...I can't help the people that have been laid off. If they were Bank employees (I know a few), those folks received a full year's severance. They are doing OK...trust me.

The question you people should be asking is "Where is all the money going?". USAA doesn't have stakeholders. USAA is ja--ing auto insurance rates up 20%+ in many situations. As such, the money returned to members will likely be a pittance. Where is the money going? All these cuts and cost savings initiatives are putting dividends into the pockets of investors...BECAUSE USAA HAS NONE! This money is going into the pockets of Wayne and his minions.

Wake up and start asking the hard questions before our association is permanently sold out to empty-suit executives lining their pockets. You want to honor the memory of knowledgeable USAA employees that were laid off...then do your part to question authority at USAA. That includes the spending for events like the holiday party.

Just my opinion, but with all the layoffs that have gone on and that will continue well into 2024, Holiday Parties are the last things money should be wasted on.

There is no official communication that that the holiday bonus is approved. Connect has a link that tells you what you will be for the holiday bonus based on hire date... ASSUMING THE BONUS IS APPROVED. That webpage doesn't say the holiday bonus is approved. If you all believe everything Wayne says during an employee meeting...you are part of the problem and not part of the solution.

First.... the holiday bonus was approved... secondly, super tone deaf to whine about a cover band when people are LOSING THEIR JOBS! Absolutely insane! The entitlement is unreal.

Thank you so much for posting about the holiday party and bonus on a site for people who have lost their jobs, pay & benefits. I was so deeply saddened to hear the news. (said no one)