Thread regarding U.S. Bank layoffs

@qb judging by the downvotes people didn't pack their sarcasm translator this morning

@j5 Now now--you have feet! Gotta do whatever is needed to collaborate and absorb that delicious culture! After all, you can't afford to air condition your home when CoPilot needs all the juice it can get to produce yet another sketchy result! Heck, the MC might even be nice and adjust the climate controls so you're only a little sweaty instead of boiling in "your" cube farm for the day!

[I really hope my /s isn't really needed for this one.]

You all worried about RTO LMAO!!! You should be more worried about your job being eliminated going over seas.

@nn people need to keep it up with bad ratings in the survey. If there's any metric they can point to in the fall that's recovering even slightly the MC will be throwing a victory parade for themselves. "I would recommend US Bank to friends and family" needs to keep nosediving.

@n9 I foresee 4 days a week by 2027 for sure. However, their TTUS scores are so abysmal that I'm going to guess they'll wait a while and see what the scores in the fall look like before the announce any further changes. That, and I'm sure it'll be a capacity in hubs evaluation as well. If there's even space to have staff in for more than the current expectation.

Would not be surprised if its 5 days a week next year. I can already see 4 days by end of the year. Goal posts keep changing.

@g1 this literally all started with A. RKD made a mistake choosing A as his next in line, and A's leadership was problematic even before the UB acquisition. Now we have a bunch of consultants at the top and we get to sit back and watch the castle crumble from within.

@j5 nah they'll die on the RTO hill. Gas could be $25 a gallon and they'd be all shrug quit then I guess.

@eh you ask where will the customers go? The smallest community bank or credit union they can find. A checking account with debit card isn't rocket science and the community banks can handle that within a standard deviation of the errors the bigger banks make. And data and jobs stay in America.

For taxable brokerage and credit card, companies like Fidelity can take care of you. Data is probably offshored but the products and services are better, and specialized.

Seriously, what does a "survey" matter if they are "lifting and shifting" your entire job role overseas? Why are you bent on surveys and 30-mile radiuses when they are actively "lifting and shifting" your whole entire department overseas as a long-term play?

Explain why are you distracted?

If your manager has something like over 10 employees then they get the results of the survey. Of course it's up to them if they want to share them with their employees.

Most everyone will be working from home again due to gas/diesel shortage crisis.

@h7 They don't share them anymore. Because everything was going down.

Where can I find these terrible survey results? Are we talking about the last round of TTUS?

There is nothing else that should be on your top of mind than the Global Capability Center or GCC. If not, pull the head out of the sand.

Those survey results were brutal.

Not sure I understand how treating your employees like complete cr-p is going to motivate anyone to put in any effort.

Clearly mistakes were made with hiring of the current leadership. Keep in mind I also feel like Andy was a poor choice too.

@bt For the record, am not a USB employee but work for a bank whose name rhymes with Sh1tty.
So ....where will these 'customers' flee to? Sh1tty? KYC is being majorly offshored to LatAm. Do Americans think that Columbia or Mexico or Costa Rica is any safer for their data than Chennai or Noida? To mention nothing of Poland or Phillipines?

JP? JP has Asia's largest and their own largest GCC in Mumbai . You think they don't have access to American customer data? Wells Fargo? They shuttered their Chennai GCC and told their employees to move to Hyderabad or Bengaluru...you think Wells has locked up their US customer data in the US?

Fact - every single bank in the US has offshored their American customers' data to lower cost countries around the world. Some more, some less. Get rid of this dream asap that any US bank cares about American vs. non-American customer data. You're a customer to them - nothing more, nothing less. If you stop banking with them, it's water off a duck's back because no matter which bank the customer picks, their data ain't being handled any differently. Tough sh-t but get used to it. You and I as customers, and a few thousand others, don't contribute enough $$$ to campaigns of politicians including sitting and future President, Congressmen and Senators. The giant corps do.

Have a nice Sunday

@bt this was art, beautifully put. I was venting to a friend who happens to be a recruiter the other day about offshoring and she asked, "wait do you work for US Bank?"

It's so bad that even recruiters outside the company know.

2027-2030 has a few possibilities. I think one is the massive ethics scandal finally surfaces for US Bank. If that doesn't tank the stock price, the MCs incompetence will.

The only scenario where anything good happens is if Pakistan nukes India.

I predict our stock price will flatline even with buybacks. The Chennai facility will cause service & tech disruption once onlined (inevitable), once the word gets out that U.S. Bank has a bunch of foreigners overseas with access to their financial data, customers will panic & start to flee to local CUs or other regional banks they can 'trust'.

I also predict a continuation of the broader low hire low fire market dynamic with more limited than anticipated AI disruption. It's just not advanced enough yet & by the time it is, costs will balloon & usage will be heavily restricted or capped. We'll have enormous bills from all the H1-B & offshore vibecoders we nepohired & once shut-out from the magic chatbot, won't be able to fix broken things even if they toss ten lead painted elephant idols into random North American lakes or rivers.

Word is getting out that the MC survey results are the worst ever & as un-self-aware as they are, they can't ignore it now & are openly talking about it. We may get token small things or easing the reins to prevent large scale organizing or unionization but only just enough to prevent that, nothing generous if anything at all. These people are misers spreading misery running the show now, we have PLENTY of cash to compensate people fairly & NOT engage in arbitrage like everyone else; we are NOT & were NOT overleveraged compared to peers.

There's so much more to say but I don't want to bore everyone. 2027 will be mostly status quo, but I hope I escape first. I'm only here because my current -30% by market pay is better than zero - absolutely no other reason than that & I used to be a completely doggedly loyal company man. Not only am I no longer loyal, I no longer trust this company & plan to close my accounts soon.

Read that again: an employee INSIDE the company, who once implicitly trusted the company & its leaders, now no longer trusts ANY of them at ANY level (used to trust my local leaders - sorry guys, you got shady & secretive too recently), & intends to close their accounts. It's not me that pushed me away, it's definitely them & has been accurately reflected in feedback for at least 2 years now. If it took them this long to catch-on that only proves ineptitude.

I'm a cynic, but I don't believe they'll up RTO, not for a while, but I could be wrong. On the flip side, they're not going to roll it back. RTO is here to stay barring another pandemic.

They are already tracking hours in office. Just not sharing the data.