There have been some rumors since the big round in January about April being a target for a second round of layoffs. Anyone have more details to share on if another round will emerge and areas impacted?
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@ks majority of the time, layoffs are always about the money. It’s no secret that the bank needs to reduce its headcount 10% by end of year. What happened in January was the first big hit (5%), based on USAA’s history, except a smaller round in May and another round in October. Now if a ton of employees retire, quit or get fired, that will change a few things. But expect 2 more rounds of layoffs this year.
@fg people, never once has it been a number count. It’s always. Been a $ amount to cut. Ignore people when they come out here with speculations about the number or percentages.
@fg I closed my banking and auto insurance. Thank you!
HR, Risk, more IT, of course Bank, P&C. 300 is the target. You have a 1% chance of getting promoted to a weak, USAA marketing campaign opportunity. I left after bonus and get flooded with stupid emails to buy their products. Once all VPs and higher all have the products, then I would consider.
@ab not sure why a down vote was given, what you said is facts. If any bank employee is worried about being impacted, take advantage of Guild and get as many certifications as you can. I was part of the May 2023 layoffs and I got as many certs as possible and finished my degree. USAA didn't want me, but Citibank did and the certifications USAA paid for helped when applying for external roles.
I’ve never heard April, but q2 yes. If history is any indicator, it’s always been end of May.
@cq this has been confirmed by our AVP as part of phase 2 of this “how we work” bank re-org. A lot of roles are going to be gone by end of year, and those left will be doing the work of multiple people.
program-project management roles are on the next chopping block for Bank Ops, specifically Bank PMO folks. If you haven't already, start applying.
Layoffs occurred today. GSP was part of it.
April, no.
But in Q2, yes!
Since August 2022, the bank has done 3 rounds of layoffs each year. What happened back in January, like others have stated was a bloodbath, every count I’ve heard for January has been over 800 impacted. Expect a medium size round sometime in Q2, and another medium size in early Q4.
If Michael Moran has his way, It’s only a matter of time before the bank starts outsourcing call center jobs to countries like India and the Philippines.
Can confirm was laid off today. Finance area. Other areas happening all this week.
I don’t think there will be layoffs in April, mainly because the 60 days ends this Friday for those impacted on January 28th, and still no comment from USAA about the bloodbath that happened that day. If you’re worried about being impacted in future rounds, the only thing you can do is sign up for as many certification courses as you can, because if you’re signed up and do get impacted, USAA still has to pay for the course. If you’re close to finishing your degree take as many courses as you can to finish as fast as possible. Unfortunately for bank employees in non member contact roles, it’s not IF but WHEN your name is pulled.