https://www.msn.com/en-us/money/careersandeducation/massive-layoffs-are-coming-in-2024/ar-AA1m7lZO
So do we think USAA will be laying off en masse or just here and there? That it's gonna happen is for sure, but is USAA one of the biggies or just a trickle?
USAA just did another round of massive lay offs today. Executive leaders are not providing details on the amount of workforce reduced.
Everything I’ve seen so far indicates a bloodbath in Bank this year and BCM functions in Shared Services at a minimum. Remember, bank leadership indicated that bank jobs were safe at least through the end of 2023. Also note the post where someone mentioned that severance information was removed from the intranet (didn’t verify this) which would be a good move if gearing up for layoffs en masse and looking to save money.
Those McKinsey rascals are at it again! I remember one that looked about 23 years old running in out of HR offices and thinking to myself how that new grad had more control of my fate than I did.
Can we start with Wayne? 90% of the employee base dislike him as both a person and "LeAdEr"...term used very loosly here. EMG that have recently retired state the board/EC is in total disarray and in panic mode. It's hard to make the right decision when it revolves around lining Wayne's pockets. Look into the RealCo sale and how much he and Stewie made. I wonder how much they made off the Schwab deal.
All companies are trying to save money anywhere they can with inflation, interest rates, delinquencies. It’s not a fun time to work in Financial Services.
Yeah huge layoff should be happening at the bank. McKinsey came and there is a hiring freeze in most departments. Anyone read the book when McKinsey comes to town? lol
Also whenever company’s talk about transformation like the bank is, that usually meanings becoming “leaner” aka layoffs lol
Depends on the full year financials and overall strategy.
My gut is there will be larger layoffs, but that is not specific to just USAA. I heard from someone I know in Bank IT they got reorged to ECIO. Now being under ECIO, they are subject to different severance than under Bank. They think it is setting up for an layoff/offshore model, which would fit Amala's M.O..
There is no indication this will happen.