Thread regarding U.S. Bank layoffs

@hm a lot of it is the hiring strategy as well. I knew of an open spot and it was specifically posted in hub markets. There were literally 3 internal applicants after numerous weeks of it being open.

People are holding onto their roles until the market improves and their negotiating power is better. If they posted those jobs remote they could hire in at a lower pay grade and have hundreds of applicants.

Not sure why the person who wrote they are seeing the opposite got downvotes. People don't want info if it goes against what they are seeing?

I will give a specific example where U.S. Bank laid off numerous PMs and team leaders (in Community and Commercial at the time) at grades 14 and 15. Now there are a significant number of openings (in ICG now) and haven't been able to fill. They are now posting many at grade 15 and some at 16 and I don't think they were having luck hiring at grade 14. So I can confirm the response getting downvoted is actually accurate in some parts of the bank.

Yeah they've been doing this for years

Bank cannot afford to operate the business lines and assets in the manner in which they should be operated with the talent necessary to manage, grow and expand the existing business lines, such that you see complete stagnation and organization of the company into a circular firing squad. The 8 cylinder engine goes much faster than the 4 cylinder engine, perhaps utilizing more fuel, but you cannot bargain bin shop when your business lines are contracting and customers are moving to better funded and better managed competitors.

There might be some roles that have decreased pay grades in non competitive markets but that is few and far between. As far as the horrible ratings on Indeed, we are in some tough times at the bank but it isn’t absolutely horrible we work at a bank lol.

I have seen the exact opposite. Pay grades haven’t adjusted enough so new reqs are higher grades than ever to match market salaries.