Thread regarding USAA layoffs

Never been at a company that does layoffs. I heard this week talks about departments being at or over headcount as well as departments needing to cut expenses. Is it up to the department to determine how they might cut costs or does leadership just mandate headcount and the department lays off accordingly?

The dependas are getting uppity.

A thought that a military spouse should be spared from a layoff is laughable. I’m a veteran and don’t see my status as any different than everyone else. I guess that poster would expect a salute for someone else’s status.

Military spouse? Why suddenly do you get to have higher, special privileges than others? You’re like of those military spouse brats who go to restaurants expecting VIP treatment?

Are you adding tangible value and have a hard to replace skill set? If yes, then your is safe.

Opposite side of the coin, if you’re an MSR, a standard IT developer, average data scientist, any business advisor any adjuster, any back office, etc, YOU ARE REPLACEABLE with cheaper hires or contractors. It is a damn for-profit business, at the end of the day.

No, I am a remote military spouse and was laid off 3 weeks ago.

I am a remote military spouse who was remote before the pandemic, permanent remote in the system. So I somewhat feel safe that they will not somehow force me or my position back into the office. But curious if anyone has heard about spouses specifically being safe from layoffs.

Re: military spouses. Do you mean “safe” in terms of remote work exceptions, or from layoffs?

As a remote military spouse, I am so stressed about layoffs. Sorry to be selfish but has anyone heard if military spouses may remain safe?

@ CaNnOt gO iNtO DeTaiLs it’s literally an anonymous board so yes you can. You either provide details or you’re fear mongering for the sake of fear mongering.

Definitely coming in June timeframe. Cannot go into specifics, but no one is safe.

The poster who mentioned USAA having an army of lawyers is spot on. They (the lawyers) know what they’re doing. Your elementary understanding of the WARN Act that you learned from a TikTok or YouTube video doesn’t make you an expert, and certainly doesn’t qualify you to comment on what USAA “must do” because you fail to take into consideration things like subsidiaries and other nuances. It’s wild the number of people who suddenly became experts on the WARN Act in the last few months. Kinda reminds of the people who became experts on mRNA vaccines overnight.

We’re going to see more layoffs. Probably towards the end of June (Q2), then another round in September (end of Q3), then every quarter after that until things shape up. That’s just my guess based on the timing of this last round and the fact that it coincided with quarterly budgetary meetings.

If your role isn’t contributing to or supporting something that generates USAA considerable revenue, your job is in danger.

If the work you’re doing isn’t something that saves USAA considerable money, your job is in danger.

If the work you’re doing isn’t something that’s achieving some strategic imperative, your job is in danger.

If you’re doing the same manual job you were doing 10 years ago, your job is in danger.

If you haven’t done any sort of continuing education and have been coasting for years, your job is in danger.

If your entire skill set is in a specific-to-USAA application or process, your job is in danger.

If your call center job could be done by a $12.50/hr contractor without the member knowing any different, your job is in danger.

USAA has brought in very expensive consultants who look for things like:

• Manual or outdated processes
• Redundancies (multiple teams doing the same thing)
• Areas to flatten/consolidate (e.g., why have 2 Managers reporting to a Director when those two managers could just report to the AVP? Bye bye Director).
• Entire business areas that aren’t competitive anymore (it’s why we sold our mutual fund/brokerage business to Schwab)
• Opportunities to reduce employee costs by cutting benefits, replacing FTEs with 3P, and more)
• Many more things

Make no mistake, we’ve only scratched the surface when it comes to layoffs.

ROFL!!!! Id1ots still watching too many TikTok videos. Do you realize USAA technically has separate companies legally ?

Ask any Bank-affiliate employee what company is listed on their paycheck/w-2 vs employees in enterprise?

Go back in line at Wendy’s.

PNC townhall was a repeat of Wayne's message last month. There will be more layoffs but there will also be hiring. We will continue to adjust to be efficient.

Some of y’all are like lemmings who watch too many TikTok videos about the WARN act. Usaa has armies of lawyers and they do give 60 days notice before getting the dev package.

Put down the phone, stop watching TikTok and go update your resume for the lines at Wendy’s.

Under WARN, USAA needs to monitor/ comply with a 30 day and 90 day window to record a separate instance.

I know also that we heard that we’d hear about rto this week. Today we were told it would be Memorial Day before the decisions were made. They said that it would take that long for HR to figure out distances to offices and such.

If history repeats itself like last year, layoffs were announced in June and August (bank got hit hard in August). What Wayne should do, along with other executives, decline their bonus along with salary increases, but they won’t. Once the board of directors realizes they can no longer have a company where morale is dead and has been for the last 3 1/2 - 4 years, Wayne will decide to “spend more time with his family” and cash out, I see that happening late 2024, early 2025. And with USAA trying to be trend setters, I think the next CEO will be from the outside and we’ll have our first female CEO to lead the company.

I’ve only heard that it’s hyper targeted towards remote employees.

There is no department. What I heard would account to 1/3 of the workforce. I have also heard June as a time frame. This isn’t an attempt at scare tactics, just do some preparation and update your resume if you see fit. I have.

less revenue = less budgets = less projects = less developers, which did occur in ecio, = less agile people soonafter.

logic 101

Take anything you read on this site with a huge grain of salt. This is literally an anonymous board that anyone can post in. Don't let anything you read on here affect your mental health because the poster could be a 14-year-old troll who just wants to fu-k with people.

Need more detail on this.

In what department did you hear about this "very large number" that execs aren't happy about?

I heard a very large number. Execs are unhappy about it. No date or timing though.

We are expecting announcements this week regarding remote RTO. I'm curious if that will include any other announcements about plans for campuses.

not until June is what i hear.

There is always chatter. Doesn't mean it's true. What department are you hearing the chatter about/in?

Or, hopefully, tell us it's not true?