Thread regarding U.S. Bank layoffs

Are we all doomed? Have you looked at the current US administration lately? LOL, are we all doomed, of course we're all doomed, Sherlock.

If it weren’t for Truist you guys would be the worse large bank out there. Imagine what a true disaster a merger of USB and Truist would be, wow!

@hn+1jszxtqnf - When tagging another user, please refrain from inserting a space after the @. It causes the reader to have to manually search to determine who you are screeching at. If you leave out the space the audience can simply click on the mention and be automatically directed to the mentioned post.

@ e5+1jszxtqnf - Gunjan could allow the bank to take more risks to increase shareholder holder. USB has been more conservative compared to other banks.

@d1+1jszxtqnf - if you are going to make an insult, at least make it funny :)

It's worse than that. USB is essentially trading at the same price it was 11 years ago. The KBW Bank Index, of which USB is a component, has appreciated 73% in that time. Since GK assumed the role of President, USB has declined 1.5% while the index posted a 15% increase. It's completely rational to exit a position in USB today.

What the OP likely meant is that the stock looks like dead weight, with little upside potential. To maintain shareholder value and continue paying dividends, the only lever left seems to be cutting people.
If you look at the stock’s performance since AC took over, it’s essentially gone nowhere. Add to that the series of missteps in technology and spending and there’s very little to show for it.

Yes OP you are DOOOOMED!!! You will soon be impoverished and living in a cardboard box.

Cinco de Mayo. Check your calendar.

I am in agreement with @cw+1jszxtqnf but given this site's audience I am sure both our posts will be downvoted to he-l.

Mr Cool is out here getting paid to sound smart and cover the bank’s a-s. I’ll have you do my taxes next year.

To the last poster - you are right. I didn’t take being close to retirement or being at a different stage in life as a consideration. I apologize.

I agree with most of the last comment except this part:

"OP or anyone on this forum wouldn’t have to worry about job security or come here to complain, if they brushed up on their skills and continued their education to set themselves up for success."

Yes, it is good advice to stay up to date. But when you lose your job in a bad market, your aging close to retirement, or any other variables, it is still stressful to work for a company if you are worried about losing your job especially if you like your job.

That part while I assume was meant to be helpful came off as cold and callous.

Disagree with the below posts about Gunjan’s strategy. Everyone is so irrational and jumps to the conclusion of layoffs or “this bank is a mess”, when that is simply not the case.

Expense reductions don’t grow the top line (revenue) - share holders and the board of directors know this. Not all changes are bad. OP or anyone on this forum wouldn’t have to worry about job security or come here to complain, if they brushed up on their skills and continued their education to set themselves up for success.

USB is a cash cow competing against other large cash cows. The only way to grow the top line is through another acquisition. Otherwise, the expectation should be marginal growth or maintaining revenue, while managing expenses. Expense management seems to be part of a larger plan to overhaul technology to become a more efficient organization.

Not sure why everyone holds USB responsible for their feelings.

@ OP, if you passed the CFA, then you would be familiar with the concept of efficient allocation of capital. The article you referenced, is basically describing that. This is normal market behavior and not an indication of whatever it is you were alluding to….

I’m probably going to get some hate and be unpopular on here, but this is my opinion. My intention isn’t to step on anyone’s toes.

This is a bad extrapolation and inference.

Gunjan will follow the same strategic direction as her predecessor, albeit with a more brutal approach. She’ll continue to focus on cost-cutting measures, regardless of how small and monetary, in an effort to present a favorable picture to shareholders. Unfortunately, these actions will negatively affect U.S.-based employees and will probably destroy the bank’s long-term stability. However, Gunjan and the rest of senior leadership won’t care because they’ll have secured their own financial outcomes by the time these effects materialize.

The banks is a mess, the financial industry is very unstable. Economy is struggling. I think it’ll get really bad before it gets somewhat normal or good again. Gunjan has a very tough job ahead of her but I also don’t think she’s going to tip toe around the issues- she’ll act swiftly bc she needs to create change within her first year as the CEO.