Lots of people walking the halls here very nervous. You can always tell when cuts are imminent. The tension is very high and the HR team is leaking to their friends. This entire place is filled with anxiety, what a horrible work environment to have to endure.
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Got put on a performance plan after reporting to HR. What's that you say? Speak up...see something say something and in return get ostracized ignored micromanaged and criticized for every little thing where you were once the high performer. How devaluing and demoralizing to say the least. What's that you say? Usaa fosters a sense of belonging? My new home address is now the twilight zone. Just waiting for the last shoe to drop while I try to maintain what sanity I have left based on the 90% that this company stole from me.
I keep updating planned budget savings. Another million here, another million there. Not sure exactly where they will land and I couldn't say if I did but I can do HR math. Cuts will be happening.
The next 10 years will be a slow grind of cutting 1-3% headcount every year at almost all financial services companies, punctuated by the occasional merger as the entire industry consolidates. That's just the weather.
The only scary thing for USAA specifically is the membership requirements mean there are fewer marketing strategy options available to acorns significantly larger scale with which to dilute our expenses.
So whether the next round of cuts is in one month or 10 months doesn't really make a huge difference. Another round of cuts is coming... some time soon. At this point everyone should already have taken that into account in their career planning.
Saying more cuts are coming is like running around with a sign saying the end is near. Don’t speak in generalities and get to rhe damn point.
When you say bank, is mortgage included in these cuts?
I haven’t heard a thing of cuts in the bank. What specific areas are getting the axe?
@wjb+1rxxXDhw Which area of the Bank? I know there was some execs in Deposits leaving.
Concent orders arw good becausenit would require workers to correct the problem!!
I know something is brewing in bank, my AVP announced her resignation last week, my ED also announced her resignation yesterday.
Goodbye ALM friends. More fines and consent orders incoming, due to breaking the current ones.