It’s about that time. Any Intel?
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USAA has had a history of January layoffs the last few years.
OneSource is typically frozen until after merit pay cycle. I doubt we would see any layoff comms until March/April with the 4.1 forecast being circulated with new data (2.1 forecast will be a mirror of 10.1 due to mod completions happening).
The compliance, audit and risk departments will be the first thing they cut. Look at the requirement to have qualified staff.
Large putsourcong efforts are underway. Pron not live til 2026. Entire departments to be eliminated and sent to India. Imagine how bad its gonna get. America's last onshore bank to get outsourced.
What a timeline
I would not doubt the compliance teams will be needed until the consent order is lifted.
Why would they be on hold? We’ve had layoffs the last several years with active consent orders. Or are you thinking they are on hold for our compliance departments?
With the new concent order, layoffs are probably on hold
Bank AML automation work is behind schedule. Layoff of ~20 FTEs are delayed. Hang in there for that 1-year salary severance.