Thread regarding USAA layoffs

Annuity issue team received their layoff letter.

@21h only for laid off folks.

Hold on, will there not be a Bank Annual bonus?

@as If you work for the Bank, you will not receive your year end bonus. They changed the Bank Severance Plan this year to drop severance from 12 months to 6, and no longer pays out Annual Bonus, even for folks with a Jan 2nd date.

Yes @y9 PT is gone. He was a weak leader who didn’t know the first thing about data or AI. Barely present and hardly respected. To think he came in as SVP of Member, Analytics and Innovation - three things he wasn’t good at and three things the Bank doesn’t care about! Created chaos with layoffs and reorgs and accomplished nothing but enrich himself and hire his former cronies. Total reject from Wells and Meta. Now one has to wonder why he was hired and fired in a year. My guess is the board and MM needed someone to do their dirty work. Job well done I guess. What a dumpster fire.

Is Prahalad Thota out now? C level executive who laid off 200+ employees since march is now impacted. Karma...

Approximately 20 people from Bank Digital Design to include leadership were let go earlier this week (Wednesday) as USAA has shifted to an external contractor for all Digital Design needs. They would not tell us which contractor picked up the work because I don't think they wanted to say "TCS".

Can't track how poorly Bank is doing if you don't have a team responsible for tracking it, now can you? :D

@e8 seems like most of the leaders here are failures somewhere else

Consumer lending buisness side lose some people including a longtime vet

@af KT said dont tell anyone

@aa back office

Severance policy says no bonuses, including holiday bonuses, etc.

@as Not true. I didn't get bonus when I was part of bank payoff in September last year.

@ar Unless they don’t receive their performance bonus because they’re “separated” vs. “retired.” That would stink.

@at shut up

@at fuq off fake news.

I’m a reporter out of San Antonio that covers USAA heavily. Any chance anyone would be willing to speak with me, even anonymously. Obviously, if anyone is willing to share some docs showing what’s going on that wouldn’t identify who sent them, we’d really want to get this information out there.

In case, my email is Zachary.wright@mysa.com

@am Incorrect. As long as you work until July 1st, you receive prorated amount. If they work through EOY, they’ll receive all if it.

@a5 Yes, as long as you work until July 1st you receive a prorated bonus. If they work until EOY they’ll receive all of it.

@a8 a layoff?

Mortgage processing managers, The chief of staff that worked under Erika (Mortgage AVP) and Mortgage QA.

@a5 No. you have to be employed through the end of the year per company policy. These folks got shafted.

@OP I think we should all be conveniently too ill to work the day after these announcements

@ah give names and we can check

hmm... now I know why both a hiring manager and a recruiter are ghosting me amid a hiring process for a role in Bank LOL either one or both got axed.

any idea on number of people impacted

Design was hit

Is P&C laying off?

I can confirm that my area of the bank has been impacted. I can’t give out the exact number because they made delineate where I am located, but they did let go of a lot of good people. This is another sad day for this place.

@a3 bank ops qa? Can you elaborate

@a7 prahalads org has been given to Michelle moss.

P&C A&A about to get their surprise this afternoon. Don't know how I was able to keep it quiet this long. Now I know how Kevin Malone felt.

Email just sent to all Bank employees for mandatory meeting. We’ll see what it is.

Legal impacted as well

Will these folks receive their annual bonus? It's so nice of Juan and M0r0n to have the 60 day land right after Christmas day. Such a USAA thing to do. Again, USAA hates its employees and will use them until AI replaces them. Then, you really are nothing to them.

Real estate lending was hit

Bank Operations QA has been hit.