Former tech manager here. Had dinner with my old boss last night, he's retiring soon so he said he doesn't care if I let the cat out of the bag. Basically if you are remote and choose not to move to a hub, the plan is to fire you during Q4. Jobs will be shifted to USBI or hubs. The only remote employees that will be allowed to stay will require direct approval from the MC so it's out of your boss even your SVP's hands. He said they hope to sc--w you out of your severance too because you're volunteering to leave instead of taking the job offered to you 6 hours away. If you're not moving...start looking. There are still opportunities at other companies that are remote especially for senior or higher roles.
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@e4 True and middle management has one and only one solution for the loss of institutional knowledge. Wait for it ...
Documentation!
No wonder we pay a ton for all kinds of documentation tools like SharePoint, Confluence, Knowledge Management systems. LOL! As if the ones getting canned are id--ts and would document everything.
The bank doesn't care one bit about institutional knowledge. Middle management does everything possible to prevent institutional knowledge for any employees.
@ag I may or may not get laid off but I will be watching so much institutional knowledge walk out that it would be foolish of me to continue using this bank to manage my money here. No way USBi can pick up that level of knowledge.
OP you wrote "He said they hope to sc--w you out of your severance too because you're volunteering to leave instead of taking the job offered to you 6 hours away."
Here is what it says in the severance doc.
- Eligibility for severance benefits after certain job eliminations*
You do not accept any job with U.S. Bank prior to the effective date for your employment termination, regardless of
its terms, and either:
– Your job is eliminated by U.S. Bank while you are actively at work and you are not offered a “comparable job” by U.S. Bank prior to the effective date for your employment termination;
.... - Comparable jobs*
Any job you are offered by U.S. Bank is a comparable job unless the job changes would result in one of the following:
• Decrease in more than 20% of your “opportunity for total cash compensation” as determined by the Severance Committee in its sole discretion.
• Relocation of your job to a work location that is more than 50 miles from your previous work location.
• Your loss of eligibility for health plan benefits or loss of eligibility for any health plan subsidy such that you would be
required to pay 100% of the cost of coverage to maintain your coverage under the plan, provided you had elected
coverage at the time of your termination.
50 miles is the set boundary. So the 6 hours part is not true. Everything else checks out.
Good luck with that - the bank is already struggling to fill offshore roles because of how competitive the market is.
This is not exactly true. They will soon announce that everyone needs to work hybrid at hub location. Hopefully you have a hub location near you. Otherwise you are SOL. Ridiculous.
@a9 clearly a troll post, everyone knows GK and the MC fully support remote workers such as providing opportunities for advancement, salary and bonus on par with in person employees, honoring promises of fully remote work made during hiring, and…oh cr-p!
@OP If this is true, thinking of fellow remote colleagues with so much institutional knowledge that would be lost. They only see people as numbers, and they believe people are fungible. They’ll find out the hard way.
First of all what is laided off? As much as I hate Gunjan and the MC, we have at least 30% remote employees across the bank so you are making no sense at all.
Not sure they can eliminate all roles that quick. The hiring process for even contractors offshore is remote.
Man, I knew when they announced USBank India that all remote job will be going to USBank India. There’s no way they spent billions for a huge office building that can fill 20,000 people and leave it empty.
And they know most people are moving close to hub or driving 6 hours to keep their job. They will do anything to avoid severance.
I for one am happy this will finally be over in 2 months, tired of wondering when they quill lay me off. Now I know and have closure and can move on
Wonder if that is for all roles across US Bank and what about the Payments side?