I understand layoffs started on Friday, 3/15, and are expected to continue the week of 3/18. Platform tech had some. In some areas, there were supposed to be some more notifications on 3/18, with leadership calls scheduled on 3/19, maybe to talk about the activities on Monday, 3/18. Who knows. Has anyone heard anything about today, 3/18? Are there any other rumors circulating for other areas that may be impacted this week?
For most folks, probably not a productive day - let's see how the week goes.
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Another thing is that Digital plans to outsource more positions to India. We were told that some Product Manager roles and Scrum Master roles would be outsourced to offshore teams in India. India is 1/3 the cost of onshore.
Digital Platforms had layoffs. Some teams were eliminated. A couple of people were told at the end of January that their team was being eliminated and they were on a working notice and told that they would know if there was a position for them by the end of March and also to spend the time applying for positions in Career Center and reaching out to their contacts. Then mid-March they were told that they were being laid off and that was their last day of work, so they have been in an active non-working status with 4/19 being their elimination date.
This was a big layoff all across USB. Andy wants positive operating leverage but cloud $$ is making that hard to do. Word is things should calm down to see how much RTO drives attrition (likely quite a bit). Around the end of Q3 will be the next big round as usual.
What department in wmis had layoff?
Multiple business units had layoffs Friday 3/15 and Monday, 3/18, which seems appropriate since the 2023 Bonus Checks were recently paid out.
I don’t know about you but I wasn’t exactly excited about the percentage amount of my bonus.
Managers scheduled 15 minute required calls with those affected (most got working notices till 4/19) and late Monday, Upper Management scheduled a required call to let unaffected people know layoffs in their areas had happened early Fri/Mon.
Most managers said that no further layoffs were expected in the near future, but refused to answer any questions from their teams.
Layoffs my coworkers told me about where in;
Marketing (all areas including Mgrs & Directors)
WMIS
Payments
Consumer and Business Banking
Recruiting (Previous Layoffs were Sept of 2023)
Lockbox
Technology
Any BL’s I’m missing that also suffered layoffs Friday/Monday, 3/15-18 ?
Owensboro was safe from the 3/18 cut.. should we still be nervous?
Laid off in procurement and several layoffs. Started 3/20
In my department Wealth Management IT, 5 people let go. 4 VP and 1 SVP
I heard they got good severance package. 6 months of pay.
Guys, It is no longer an ethical bank... no matter whatever sh---y rewards it gets.
Just run away from this bank immediately.
Does mortgage in Owensboro or Oshkosh need to worry??
Job cuts in Marketing.
Heard Lockbox lost some tech folks as well. Unclear if severance was offered.
Is this the USBank culture they keep telling us about for RTO? Drop us like nothing. Nice culture
Lost two employees in our group .. given 30 days notice .. tied to severance package
I'm on one of the platform teams and we just got word our specific team is losing three members as of today. If they qualify for severance, they will have it.
Rumor has it Prod Ops may see more layoffs as well.
This came out of the blue and not sure why the rush. They announced and released people same day.
Great loyalty, right?
cuts in talent Acquisition, severance offered.
Severance offered. I do not know terms. Ty for info on talent acquisition. Has anyone else heard anything? I am hearing more on 3/19 and read something about 3/22. I have no idea how reliable info or dates are. Tomorrow, 3/19, is another day and time will tell.
Any idea if severance was offered to those on the layoff list?
Job cuts in talent acquisition today