Perhaps the culture of fear could at one time motivate some of us to stay and be overwhelmed, squeezed and undervalued here, but does anyone take that style of management seriously anymore? Does management really think we have no other options? As for me, and I believe many others, my only motivation today is to give notice as soon as possible.
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The environment, operation, returns, margins, ratios and the spreadsheet were so toxic that Berkshire Hathaway fully exited all ownership of a bank it had held since 2006 and not so long ago Warren Buffet was on the record telling Richard Davis, "Di-k, I love U.S. Bank"
Lots of negative Nellies are in here. True Bankers will stick around and ride the wave. Been here for 3 decades and more. USB and strong and solid.
Curren CEO is doing a great job and growing the company.
I’ve been in banks for 30+ years, not just at US Bank. This is absolutely the worst toxic environment I’ve ever experienced.
Speaking of McKinsey & Company, here’s a great article that perfectly sums up Andrew Cecere. “ McKinsey Exists Because CEOs Are Cowards”
https://medium.com/swlh/mckinsey-exists-because-ceos-are-cowards-751c0e108266
In my opinion, leading through fear is synonymous with leading with zero credibility and no confidence from the rank and file employees who see failings on a daily basis which did not occur 10 years ago. Has leadership used McKinsey to hide their overall ineptness from the shareholders, pointing the finger at McKinsey time after time? The only thing sadder that the consulting firm providing recommendations to leadership are the people that listen to that nonsense and are in over their head time and time again.
It’s been a culture of fear complete toxic work environment since Greedy Andy and his McKinsey masters took over. Hopefully the mess Cecere has made of the Union Bank transition and all the social media posts from angry customers will finally get some media attention on what a joke this CEO has mad out of US Bancorp!
Culture of fear? I am not experiencing that at all at USB. Sounds like banking is just not the right place for lots of the posters on here. It's an industry that is constantly changing and you either roll with it and adapt (and more importantly, take those times of change as an opportunity to be visible and shine....that's where the good opportunities often surface) or explore roles in a different industry if you want what you perceive as stability.