I’ve had multiple, credible sources tell me to expect more layoffs early next week. Anyone else? My management has said more layoffs are on the horizon.
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Hearing Leadership meeting scheduled for this afternoon for at least one COSA
Bank CRO meeting invite was sent out this morning for 5/23
All hands meetings popping up for next week in ECIO
My guess is the layoffs aren't impacting your area. But they are clearly going to impact RISK areas tomorrow!
Not to say it is not happening, but I work in (what could be deemed) a higher level position with direct contact with executives in my COSA. Not one peep about layoffs. More talk about attrition doing the work, but that’s it thus far.
To be honest I hope they clean house of program manager leads. Some don’t know or do sh!t, but get paid big bucks.
Does anyone know if this round will include the leads? I know that one of the posts last week talked about how they were going to work on eliminating those positions and replacing them with senior people.
While Wayne might be tyrant, he isn’t stupid and will use every legal resource he has to find ways around employment laws. One comment on here talked about if the bank was being hit, and I agree, if it bank is involved, just sell it and be done with it, because how much more thinner can you make them!? No wonder so many from bank are jumping off the titanic and leaving for Citibank and Frost Bank (big local
bank headquartered in San Antonio).
It’s really tiring to see people talking about the WARN Act constantly, as if a lack of a posting suggests that it’s not going to happen. The USAA lawyers know what they’re doing. They will let people go from different areas of the company — that is, different subsidiaries, etc. — at periodic intervals to get around to the WARN Act requirements.
If/when the company has a truly large layoff, they will post it. For now, they’re going to let a few hundred people go at a time in different areas of the company to skirt the rules. After all, what could be more Honest, what could have more Integrity, what could be more ethical than gaming the system to save face?
Great job, Wayne and EC!
Dang! Less than 300??? I was hoping this one would be bigger. :(
I could not find USAA in any of the 2023 WARN notifications. Can anyone provide insight on how to properly do WARN lookups?
There is nothing on the Texas WARn notice siye
I can confirm. Already have the meetings scheduled to send out. Enterprise wide, but ~300 people, so not as big as the other recent RIF.
5/16 for risk. Bloated programs primarily impacted. Very reliable source.
The risk program team is getting cleaned out
Is it business risk and control advisors in first line or is it second line risk?
I know Risk has some for sure.
To whoever has knowledge: Will the layoff include any risk and compliance folks? Or will it be targeted to remote people across the org?
Nothing speaks to the mission like laying ppl off right before memorial day...
Will this affect all cosas? Or, specific groups?
Notices coming may 16. Company wide
If it involves the bank, they might as well just sell it to BofA or Chase. How thin are you trying to get them? Especially after last summers blood bath in the bank.
They may not care about the 60 days either. This one may be bigger so they have to report it anyways. There is also comments about how layoffs usually happen on a Thursday or Friday so the 16th seems odd too.
Last round was March 30th. Sorry, not sure how to explain, but aren’t the different areas technically different companies so the 60 days would only apply if with the same ‘company’.
The last one was March 23rd, right? So we are almost at the 60 day mark.
Lol they care more about their buildings than employees.
Really hoping that means office closure!!!!
From one source, many CoSa will get hit. Not just one or two areas. Will update as more information is provided.
Credible sources, huh? And just to ask, what areas did the sources say would be impacted?
Someone else had said May 16 announcement? But not sure how reliable that is.
It's been rumored on this site for next week too. Although some said it won't be till June because of the requirement to wait 60 days in between so we shall see! Did those "credible sources" happen to mention what areas will be impacted?