Thread regarding U.S. Bank layoffs

I was laid off from Wealth Management, no any serious reason, just new and unprofessional management

Why are they laying off people in Wealth when most departments are already understaffed? Are they just trying to make people quit?

The past 2 years, they just keep making changes and laying off people.

I don’t think they have a plan. And the senior leadership in wealth don’t seem to have any plan for wealth.

@2wqy+1v2IYx1R

This new fade of hiring managers with no experience or knowledge that don’t ever speak up except to kiss leaderships a-s seems to be the new trend across the bank as a whole. It’s extremely concerning and shows exactly what kind of new cultural they’re trying to instill. I have no doubts this is going to backfire.

The talent in Wealth Management is draining faster than ever. The folks running things now don’t really seem to understand how to serve wealth clients. They’re keeping people who are afraid to speak up and are just focused on hitting the numbers. And in PWM, the leadership is so toxic—they’re constantly blaming others for missing targets instead of addressing the real problems. Sadly, I’m still here, watching the ship sink!!

Laid off from WM. Was invest port mgr for under 15 yrs but decades of industry experience. Know of 3 ppl in AMG laid off. Know of 2 ppl in mortgage sales mgmt laid off. In last 2 years I didn’t recognize the bank from the previous 10+. I know nothing stays the same in business forever but the speed of which mgmt destroyed a decent culture was epic. Clues on the wall from getting rid of community model, farming off clients to call centers, and brand new senior mgmt that has no clue how to serve wealth clients. I can’t speak to the UB acquisition but never made sense - senior mgmt used the UB purchase as a scape goat since 2022. I will miss working with my clients who are being told I’ve “left the bank”. SMH.

@1lek+1v2IYx1R: "The Business Owner Advisory (BOAS) Team works with private company clients who are thinking of transitioning their business ownership. BOAS helps them evaluate options and coaches them through the transition process. "

What does BOAS stand for?

BOAS in Wealth is being dissolved in 2025, so that’s about a dozen people whose roles are being eliminated.

I am aware of layoffs in AMG, bottom performing sales PM, and business architecture in wealth.

Management's secrecy around layoffs is comtemptible.

Their secrecy has destroyed any trust that may have existed in the past.

It's too late for this bunch of clowns to restore the confidence of the staff.

I have not heard anything about Wealth. This company is big and only a fraction come on this site. Everything is secretive and unless it directly impacts my area I never know what areas had layoffs.