Thread regarding U.S. Bank layoffs

@7a0 Doing what’s best for the business is NOT racism.

• Person of color

if you need gk 2 million dollar home address in SEWICKLEY, Pennsylvania let me know i'd be happy to post it

GK was a bad seed from day one when we met with her shortly after she was hired. Treated and spoke to our long tenured staff like we were inept. Nothing but turmoil ever since. Some of our largest clients threatened to pull their business if USB ever outsourced certain functions to India. I am far from racist and have a number of acquaintances and neighbors that came to the US 20+ years ago and they are wonderful people, but being restricted to dealing with a select few employees who can communicate via email from Bangalore was a very slow and painstaking. There are definitely communication barriers and cultural differences, no sense of urgency and some down right rude responses.

@cm

GTFO they are not to be trusted. 45:17 seconds GK told staff "if you don't like it leave" so they did. Critical staffing went from 60 to ONE. One poor woman is holding up the entire Hogan system and she is 2 years from retirement. In the CEO's first town hall at 45:17 seconds she told them if they don't like how they are being treated, leave. INSTANTLY over 200 people dropped off her first town hall. She is evil.

@d6 PREACH!

Value extraction from the company is the ultimate goal and yes that's McKinsey's specialty. But everything's related. It's correct this extraction could take place via Poland or the Philippines, etc. but based on industry moves India provides greater cost savings and of course the ability for US-based executives of Indian descent to increase their culture's Izzat.

It’s got nothing to do with India or Indians. These GCC’s could’ve been opened in Brazil/Portugal/Taiwan/eastern Europe/etc.

Real issue is that U.S. Bank has been diagnosed with the McKinsey disease. Everyone in corporate world knows that when your CEO and management committee has current or historically been linked to the cancer that McKinsey is, you’re finished.

The goal is laundering shareholder money to their friends and family in India. The comments about quality are accurate, but trivial.

@dq lots of mistakes, not as qualified.

@d6 FACTS

GK is cr--ker barreling US Bank

"Time to light that Town Hall Q&A up with GCC questions ..."

@b0 Oh, it was lit alright. One could clearly see that Dilip wasn't happy that this news was out in the open and tried defending it with a deflection on how it needs to be considered as expanding of workforce rather than employee reduction in US. Riiiigggghhhhttt ... all that while every exec talks about operational efficiency (cost cutting) and expense reduction (or as someone called it - expense discipline LOL!). Clearly, they were not prepared to be questioned in this space just yet and were caught off guard.

Is anyone surprised? Practically every leader at USB is from India. They’re offshoring all these jobs to their families and friends back home.

@dj I made the comment about script kiddies. my experience with contractors from India has been 100% negative. Out of 50 software engineers or cloud migration "experts" so far in my years I dealt with directly, none of them knew what they were doing. I mean that truly. They are professional KB article readers only. If the task deviates from the KB article, they enter a human equiv of a blue screen crash.

Yet, you get 1 American (regardless of race) on the issue and suddenly it's like the drain gets unclogged instantly. It's not a race thing. I work with Indian Americans here who are adapted to our culture and they are infinitely better.

And don't get me started on tech support.

It's like their education system is broken or something.

GK d-mb as rocks. These Indian a a tech and customer support workers never fix any problems they just create more. Not only that Indians are scammer now with sensitive client data. What could go wrong?

@d7 I’m sure it’s out there somewhere. Given it would directly impact a third of his org (5k out of roughly 15k in Tech) wouldn’t you say it deserves to be more talked about and not hidden?

… and it’s not “Global Delivery” but “Globally assisted delivery” since we barely have any customers outside US.

Go to technology today intranet page and find the page on global delivery. It's under the drop-down on the top

This cracks me up. If you got your technology today in front end sign and come to the top and look at initiatives drop down, he will see a page called global delivery.

On that page they brag about decreased time to market for delivery products.

Hilarious because these clueless leaders clearly have never worked with contractors and workers over there. They take FOREVER, and it's always terrible output. Hello cloud migration failures? We are still cleaning up the trash they built in 2023.

They hire PURELY based on certification and degree and not competency over there. They cram for exams to pass cert tests. But throw a problem in front of them and they fall apart. They are script kiddies that only know how to follow very clear instructions for well defined situations. Any bit of complexity and they are stuck.

I tend to keep my investments (of 7 figures) and banking (U S. Bank) separate but was recently considering combining them both into USB for ease of use. After this news I’m still going to do it but go with a different financial institution altogether. Bank lost the one edge they had with this decision.

This is nuts! But hardly surprising given L1 and L2 in Technology are both from India.

US Bangalore

This is a huge blind spot for the regulators. If you’re a customer of any of these big banks I recommend moving your accounts to a credit union and freezing your credit.

Time to light that Town Hall Q&A up with GCC questions and requiring managers to rate people as "Needs Improvement" questions.

US Bank brought to you by India.

@ab shareholders are one thing but what about the customers who’s money and confidential data we are supposed to keep secure?

WTF? Are we really sending all our customer financial information to a third world country? What's the damn point of making a big fuss about regulations when we hand off PII data on a platter?

Oooops, you would think that the bank would want to be out in front of that topic to manage the message, but, they've hidden most of that from general conversational space and rank and file employees. Suspect that shareholders have been kept in the dark over that commitment, which doesn't make it wrong, but can the large institutional shareholders trust this board of directors and this leadership team at U.S. Bancorp.

India is perhaps Russia's closest ally, purchasing most of the Russian oil which is embargoed by the West and the U.S. and U.S. Bank thinks that is a good idea to build a global technology/contact center there, when the vast majority of the bank's customers are in the United States, they are not overseas, in Europe and certainly not in Asia,

Wall Street press and industry trades ought to have some intrinsic interest in this news coming out from somewhere other than the bank's leadership.

GK has made no bones about becoming a Cat II bank, so we can’t be surprised this is happening as most or all of the Cat II banks have tech stations in India. So this one doesn’t surprise me.
What I am more worried about is overarching on production and accountability with the performance management process. The spray and pray mentality is going to have a boatload of collateral damage. You won’t be able to replace high talent you push out with bare minimum salary and comp.
While I’ve appreciated GKs accountability, I don’t think she actually sees what her leaders are doing.

Dilip’s last Townhall for this year is tomorrow. Wonder if they’ll talk about it. Hopefully someone asks this question …

Huge news! It was only a matter of time. Thanks for sharing!