Aml has bern saved for so long, sonething has to give…
Cant keep oaying folks 100k to push a few buttobs for a few hours…
14 replies (most recent on top)
Aml is not looking to good…
Saw teams are seeing reduced alerts….
@11e well we’ve basically stopped hiring, posts are 99% just being filled internally. Stopped hiring. (But very active with enterprise and P&C), no new members or products. Can’t get from under consent order. Lawsuits pilling up? Our only IP not holding up in courts? Bad management. Talent has jumped ship. Looming economic collapse.
No, I’m sure we’ll be fine.
Those who have seen the planning decks know there is more pain in store for Bank. In 26, 27, and 28. The numbers don't work without continued layoffs.
@yv not defending him, but with our regulatory constraints of no new products and no expansion of membership, coupled with shifting interest rates, and our membership not being able to afford anything (credit) - cuts are literally his only lever.
Dont worry in about 6 weeks or so this board will be alive again
@f7 no lol
I remember the bank reorg from Jan 2021, all because the consulting group said it was a more efficient way to work. Only for Aug 2023 and another reorg/transformation, because the new consulting group said the one before them was wrong and they’re right. If anyone has been paying attention to Michael Moran, he keeps saying we need to get “leaner”, only way that happens is with a reduction in workforce aka layoffs, but trust me on this, only ones safe are the ones closest to Mike Moran, he’ll keep the over bloated executive salaries and layoff the worker bees who make $60-90k.
Does USAA still pay for your schooling if impacted by a layoff during the semester?
It’s the worst kept secret in bank for Jan 2026, a massive reorg will take place and most teams will be split up with elimination of some roles at the director and above level in all bank areas (member contact and non member contact).
So if it’s been too quiet, it’s because bank employees are preparing for the Cat 10 Hurricane that is going to hit in about 6 1/2 weeks.
@b9 I truly hope that it’s just a rumor and history is not repeating itself from January 15, 2021 when my entire team was laid off and we had to reapply for our jobs.
Rumor has it that bank non member contact roles will need to reapply for their jobs come February, (flashbacks to Feb 2021) when all Experience Owners, Business Advisors and Process Owners had to reapply for their roles and a good amount of them were let go
Same at P&C, people-leading Directors will likely be purged in Q1
I think now most employees have reached stage 5 of levels to acceptance … 1) denial, 2) anger, 3) bargaining, 4) depression and 5)acceptance.
Most have come to accept that, and especially in bank with a numbers guy like Michael Moran in charge, that layoffs will now be a normal occurrence every quarter going forward and the first domino to fall will be with the re-org that will be announced in late January, a lot of ED’s will either be demoted or let go, same with directors. For all bank employees, if you’re not already looking and or applying to get out of the bank or looking externally, you’re already behind the 8 ball.