The writing is on the wall for this company, and it couldn’t be clearer. With the CEO dropping major hints about employee displacement this year and next, it’s obvious that a wave of layoffs is looming. This isn’t just a routine restructuring—it’s a warning sign of deeper instability. The company is shedding its workforce like dead weight, signaling either a desperate cost-cutting measure or a failure to sustain growth. Employees who once felt secure are now left reading between the lines, knowing that their jobs could be next. If leadership is already bracing for cuts, then the future doesn’t look promising—only uncertain and bleak. I for one just take the bonus and get off the titanic before its too late.
23 replies (most recent on top)
Good analysis about 3P and FTE. There are rumors 3P/FTE ratio will be 4:1
Apex Systems is the place you want to look. They have contracts with USAA to pay ~90 dollars an hour for senior level jobs. You may be able to get more if it’s IT related.
To the person posting that they got a contract position after being laid off last year…any chance you can share which agency you are going through so others who also got laid off can apply? Appreciate it!!!
How about AML?
I am in the bank and my manager is recommending we look at other roles in the company. That right there told me something was up without saying it directly.
You nailed it. There are rumors in my department to expedite the completion of Key projects before May, so that they can get ride of people without any major issues. One of our VP, who is leaving USAA after the bonus hinted around 7% layoff this year
I've been with them about 15 years, looks like it's time to switch it up.
Between denial of home insurance claims, bad publicity, and extremely high automobile insurance rates, USAA is struggling. Also, automobile loans for used vehicles depends on the age of the vehicle.
2024-2019 is one rate, 2018 and older is another. Credit score over 800 should get a better rate, not prime plus.
I've been with USAA for 24 years and saw the difference over the years.
Usaa has done nothing but steadily raise my insurance rates despite a good driving record and being 50 years old. They also refused loans and credit cards, even with a great credit score and good income to debt ratio. They will not negotiate rates at all. Their customer service is horrible. Accidentally dropped a curse on a call and got a no bully policy within 24 hours, but it takes them weeks to handle anything else. They can kick rocks all the way to bankruptcy court
The money they have spent on celebrity endorsements in advertising should have been spent on giving better returns on accounts and reducing insurance rates. It’s a disgrace. They have gotten too big for their britches and need to get back to their roots.
When USAA decided to accept non officers searching for market they developed all this financial issues. They need to go back to their original scheme.
I had a car totaled in an accident and after being with them since i was 18 they instantly dropped me. I had banking, insurance, credit card, auto loan all thru them. When they said they would drop me I said transfer me to the next department and Closed every single account I had with them. Sc--w USAA.
@hz+1jjxaecbr
USAA was in trouble long before Wayne took the reins. Long term deep root issues at the core have been taking place for a very long time. This company was not the "rose" people make it out to be, just good at covering up the smell.
I hate the app, I hate they require me to prove who I am online in order to talk to a person, there rates were only competitive when I told them to cancel my 3 policies.
I won't cry if they go under
Watch as your AD and Veterans leave as USAA customers because of the lack of duty and dedication to the military. Sad, but it will happen.
Wayne Peacock ruined this company. I have decades of experience and have also admired USAA, its associates and members. I was honored to be considered for a senior role but I met with Wayne who was empty and vain. I couldn’t believe he had the job he had. A year or two later he was promoted to CEO and my jaw dropped. I knew I had dodged a bullet. Many other p&c very weak and unqualified. Wasn’t shocked when the head of claims was desperate he went to Lemonade (lol)
The writing was on the wall once they stopped using ex-military as their upper level management. The people who knew what duty and loyalty to members meant were gradually replaced. Instead we were subjected to business mentalities that were more concerned with share price and short term earnings and how that would look for their year end bonuses. So they made choices that helped short term and destroyed them long term. But they didn't care because when sh-t finally hit the fan they would be gone with their monstrous severance packages. USAA should claw back those golden parachutes from the CEO and hold him accountable.
This is what happens when civilians start running a company that should always be run as intended....by the military and for the military.
They grew by expanding the eligible population. By multiplying people they multiplied potential issues. The board being nearly exclusively retired flag officers exasperated the problems, as the majority have spent the entire life in the military environment. Reel in the eligibility, and recruit som banking and insurance experts and get us back to service levels of decades ago.
Poor management on the part of the board and the CEO for letting these problems fester. These people may have good credentials and/or high rank but they obviously don’t know much about the banking or the insurance businesses. Or maybe they’re operating with a good ole boys attitude. CEO should have been fired a long time ago and the board replaced with people that can do something rather than this sorry bunch of do-nothings. I was a banking regulator for a lot of years at a pretty high level and I’ve seen this kind of thing many times. Whatever happened to the top leadership (and I use this term loosely) being held accountable? A sad case.
Not surprising considering their current problems. Meanwhile, the C-Suite gets their fat bonuses and Golden parachutes.
We have been USAA members for a long time and moved most of our money out to a different institution.
There’s a hope in a contracting gig if it makes a future slightly brighter. I was laid off last year and am coming back as a contractor with 40% bump in pay. You can’t make this up. So go get that contractor jobs while they are out there.
I said it in another post and was downvoted. IT has started splitting into FTE and 3P teams. This is to make the cuts clearly to align to AD’s push to TCS/equivalent sources.
I’ve been actively looking as know how these snakes operate.