Thread regarding U.S. Bank layoffs

AI is a joke in USB. Incompetent CIO's, lies and nepotism.

Dilip and his team are worse than most technology teams in the industry. After all he is ex McK and has never delivered anything but presentations. Thats why cloud, app rationalization, the UB acquisition, risk mgmt, digital and a host more are laughable and have cause technology to layoffs so many people to make up for the over $400M miss on benefits from all these promises from Dilip and his McK pirates.

Need to position AI as a tool. I would even be fine with it as a way to decrease the need for additional staff rather than a way to cut. Let’s focus on productivity and not just cost.

@as+1jxmrfnrk

*when reading the

Anyone else find themselves rolling their eyes when they read the bank's announcements?

As we find ourselves at the halfway mark of the year, we’re taking a good look at our staffing strategy in light of the current economic landscape. While we’re working to pin down the exact number of positions that may be affected, it’s worth noting that this figure could shift as circumstances evolve.

In our recent All Hands meetings, we touched on the bank’s primary expenditure: our workforce. This conversation is particularly pertinent as we face challenges like rising civil unrest, global conflicts, and the ongoing struggles in the commercial real estate sector. These factors help paint a clearer picture of where we might be headed.

The finance industry is increasingly embracing artificial intelligence, often without fully considering the impact on the teams that remain. This trend is largely driven by leadership compensation structures that focus on market forecasts rather than the long-term health of the organization.

To be straight with you, many of you are spot on in saying that AI will augment our workforce. However, it’s important to recognize that this technology is also being used in ways that could undermine morale. The developments we’re seeing are be part of a strategic effort to reduce headcount while boosting profits in the face of global uncertainty.

July through October is going to be a challenging period for many, not because of AI, but because of financial realities. This isn’t about technology taking over jobs, it’s about the bank correcting course after a series of poor decisions, especially around acquisitions like the Union deal. Now, it’s all about balancing the books.

This is hilarious as it’s coming from the same leadership that has failed to migrate to cloud / Azure. Their inflated ego believes that they have the engineering talent to implement AI without even knowing the reality of the situation on the ground level or how the software delivery life cycle even works at the bank. There may have been a small possibility to stay ahead of the market with AI if they hadn’t laid off their top developers and replaced with their 80% offshore model.

You’re not alone, been hearing the same internally. There’s talk going around about a 20% headcount reduction planned for Q3, supposedly “AI-driven efficiency.” But honestly, it feels more like a budget cut masked with buzzwords.

Also heard that no real AI team exists, just consultants and some slide decks. No working prototypes. It’s scary how disconnected leadership is from the ground reality.