Whole teams are being let go across the organization today. Over 1000 alone in IT. What a sad day!
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God Will provide, When one door closes another will open never worry what you will eat tomorrow when he already fed you today 🙌🙌🙌
USAA is not a public company - if it goes in losses it’s not going to bankrupt, as far as I know there are cash reserves which can weather a recession. Lot of FTEs are working for the Healy benefits and to support their families. I am reading to see engineers with 15+ years in USAA are let go. The brand will survive. What are the C level trying to prove here ? And to whom ? As a member owned company it won’t grow as much, so what is the issue ? If we don’t vote for the next 5 years there is always ways to offset losses in business - write it off !!!
I’m pretty sure that the plan was to create a situation where more volunteer to leave. Layoffs are expensive.
Alot of talk about Amala but when your run costs are 2-3x more than average thats the only option. I unfortunately was one of the ones impacted along with 2 others - we're all pretty much at the top of performance reviews, only ones in last few years to get the "exceeds expectations" ratings. I understand cutting but not randomly. Oh well onwards and upwards now. Good luck to all impacted.
I recently shook Wayne's hand during NEO... all of this has left such a sour taste in my mouth.
If the CEO truly has an open door policy, employees should band together and demand Amala’s termination. Very damaging actions fir USAA’s reputation.
I joined USAA with pride and now feeling sad for the affected. When I saw new reqs after layoff, I was thinking why should they remove roles instead of stopping hiring? They could have cut costs in other areas like vacating office buildings etc.,
Very sad for everyone affected.
Here's what Amala did at Regions Bank: thousands laid off
https://www.thelayoff.com/post/@33rvv+VTIvGld
Thanks for the heads up Amala, you're solidifying the idea that we don't have a future here at USAA anymore.
Amala in India to meet CEO of HCL and TCS next week. Offshoring a ton of roles. More layoffs to come.
https://www.mysanantonio.com/business/article/usaa-layoffs-2023-17870012.php
We are now in the news, with 475 total. The report did not mention the thousands of contractors that were also let go, I feel for them too: They have families and mouths to feed.
Very sad day indeed. Why would Amala axe 10% of ECIO operational costs just to be at par with the industry average, it doesn't make sense to me. We don't have to conform to the industry average if that means we are still ahead of the pack and the company can still afford it anyway. This mass layoff can only trigger severe attrition and low morale for those that remain. I am scared for my position at USAA for the first time as there is no certainty going forward. I knew it, Amala did the same at Regions Bank where she came from and now at USAA. If I can only vote Amala off. Sad.
I was one of ones laid off in the IT space. 14 years there, and still got the axe. My team was utterly devastated just as I am...
we lost two very talented engineers who had incredible performance reviews. Very unsettling to see this is how USAA handles layoffs
Anyone got the tea for Bank? Just came out of the All Hands meeting lol
There were rumors when Amala was brought on to USAA that she was known for cutting staff and reorg type stuff to "modernize". Guess the rumors are shown true.
ECIO specifically
Apparently around 1700
There was a 1k 3rd party cut and then a sweep today (and tomorrow) targeting FTE’s. A nice budget boost and morale lifter could easily be had if they would pull the plug on all the DE&I silliness.
Curious where the 1000 number is coming from? Someone told you that number or just a guess? My guess was 500 or so but that is just a guess...
I knew Amala was up to something from her past meeting. Where in the company have people been let go of?