Not sure how they are going to spin the next wave of layoffs, but undoubtedly more are coming.
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Bank can't generate revenue following a number of poorly advised and pitifully executed revenue initiatives, not surprising to teams most familiar with the flawed initiatives,
Most concerning is the leadership team continues to whistle past the graveyard, ignoring the obvious flaws in their own leadership and organizational structure, such that given the complete absence of any way to enhance revenue growth, all they can do is continue to lay off the talented employees that actually run the bank's operations, starting a vicious downward spiral, as sloppy and problematic operations drive current customers away and completely deter new ones from thinking about a relationship with the bank. In my opinion, U.S. Bank has become the Comcast of super regional banking, they simply don't care about the business or the people who run the business anymore.
Next bought of layoffs should be around November 15th so two weeks after the Election as someone previously said in this string.
All HR ever talks about regarding the massive reduction in force (RIF) is that they know upper MGMT needs to reduce costs, by laying off employees.
Until the stock price starts going up, more layoffs will continue.
Probably the next round will be in early to mid December and then late January.
Aren't we lucky to be employed by this wonderful and ethical...group of managers!
Our “head jerk in charge “ just laid off a manager I actual respect because they know what they are doing , sound production and actually gives a fu** about his employees.
Yes, I’m giving him my personal cell. Clearly this bank has no clue about choices they are making.
One announcement did not even list a name, like emps are just subhuman and not the lifeline of this he-l hole. I now report to someone who is far less competent than my
Current manager who was given notice. It was not based on production for the fact we are well ahead of any other peer group out there. I just hope my manager takes me with them.
Roper in Financial Crimes Operations
Well, they do the business lines, next maybe credit approvers? Not sure. Logically they become even more important with fewer and less experienced portfolio managers. Do they consider logic?
Who is JR in FCO
Biggest layoffs always happen after Election Day, an American pre-Thanksgiving tradition.
What business line is expecting more layoffs? JR in FCO sent out an email indicating that no further reductions were planned. At least for now. It’s frustrating, demoralizing, causes undue stress and mental instability. Just be upfront! Everyone knows it’s NEVER a good time for layoffs but HOW the business line/company goes about it speaks volumes.
Really fed up with this dumpster...hopeful for better job market so I can leave this depressing POS
Sadly, I’m sure there is more ‘announcements’ coming. I wish they just announce it and get it over with.