Yes there are more layoffs and reorgs coming

What is known:

There’s another wave of mid-June layoffs (from here)
September RTO and attrition leading to it will likely lead to another mid-September round - perhaps October
Bank just combined ALOT of BRC, ops, omnichannel, and CoS / project functions
Wayne and Paul have both openly stated about the need to cut down on AVP/ED/Director roles to flatten the org / spans and layers

What I think the above means:
I’d say 3 rounds of layoffs before next bonus is a safe bet. Heavy cutting within Bank - especially within BRC, project / pmo functions, and chief of staff / support roles. CO supporting functions likely impacted after the CO is closed. Disproportionate cutting likely for remote workers if attrition doesn’t “solve that for us”. Directors with small teams or no teams will also see a larger hit.

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Weird. We just added a second director and a new AVP. Both are clueless big bank failures turned usaa “leader”. There is zero reason to have two directors and another EC level position over our teams.

Maybe Wayne and his sidekick in HR can make them disappear as quickly as they appeared.

McDermott is rolling over in his grave. Need to have more military leadership in key positions.

All while moving forward with expanding eligibility.

But how will I cash in my healthy points!

Exactly! ECIO execs like Amala, Jodi, and Jason have a "director/chief of staff" under them with no direct reports. And yet, they also have an admin assigned to them! How is that not a waste of resources?

This is antiquated thinking to boost their egos and make people feel they are more important than what they are. The bank I now work for (one that still serves the military) has SVP's without an admin or chief of staff holding their hand all of the time. If they do have a helper, it is just one COS/Admin covering multiple execs because the company knows these people are capable of managing their own calendar and appointments!

CO = Consent order. Colorado office is included on RTO space planning.

If they really want to see attrition, cut the bonuses. not that i want to give them ideas...

In this case I think CO means Consent Order instead of Colorado.

Please say they are cutting my “director”. He is useless and produces NOTHING!

Where did you hear/see that rumor? I've not heard that one before.

Is it just a rumor that the CO office will close? Or has this been confirmed with a known source?

So, you're saying there's a chance? My org is over-inflated and I was SHOCKED we weren't included yesterday!

Thread regarding USAA layoffs

Yes there are more layoffs and reorgs coming

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