Was last week's wave of layoffs pretty much it for the rest of this year, or are there still mass layoffs planned for October? Any inside scoop?
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October 18
Any news on impacts to Platform organization?
October… wealth
It wouldn’t trigger the WARN Act because US Bank will do what’s it’s always doing and structure to avoid the trigger of 50. There are roughly 25 hubs, if us bank lays off 40 employees at each hub that’s less than the 50 minimum at a single location even though it’s accumulates to 1000. I’m curious to see how many employees the bank reports at the end of year !
Anyone heard of additional layoffs happening to CBB support teams?
Wow! 6% is around 1000 employees. Wouldn't that trigger the WARN act?
TOS layoffs in October starting on oct 3rd. 6% across the board targeted number. Good luck
So anyone hear if this includes Wholesale Operations? Final Docs?? We literally went from a hub of 300 plus people before covid and now there's like 70 if that left. But I agree I believe if more layoffs it will be October when it happens as that's exactly how it happened last year for our department.
Pure speculation here - October is usually the month that the calendar year 2025 budgets solidify.
This leads me to think that if they were stalling then they're out of time.
I think we should buckle up and expect a bumpy ride until we get to the holidays.
Thanks for the insight!
Do you recall where you've heard this and did that source say anything about what departments/roles?
Yes - the areas that support business lines that haven’t reduced will follow lead from what just happened
I’ve seen posts about layoffs across most departments at the bank, has anyone heard anything about layoffs at Elavon?
@jen+1uECSCx3 corporate or personal trust, or other areas?
@spo+1uECSCx3 I've heard there will be layoffs in Wealth in October.
Everyone wants to ask for the inside scoop but never wants to share it.
And yes. I have posted plenty of actual info here myself.
Instead of blindly saying October will be bigger... WHERE did you hear it, WHAT areas?
October will be a much bigger round.
I've heard there will be another round the 2nd or 3rd week of October.