Post what area to see how big this cycle is.
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Curious who from Data & Analytics. Surprised they even had anyone left to cut. Any big names?
14 years for me. Only one from my team but all around me.
@e2 mine was 30 weeks pay (15 years).
Who all gone ?
Heard lots from Data Analytics and Bank IT. Anyone from P&C yet?
Can anyone who was impacted or adjacent to those who have been impacted state what the severance package was
Bank Fraud
I guess the board is gonna let the consent order linger for a decade before EMGs in fraud get let go. Wow!
I can’t wait for fraud and AML to get smacked with another consent order for all the garbage work that TCS and 3P are doing. Then the cycle will start all over again. Panic hiring to revamp, reduce the reliance on contractors, stabilize and appease the regulators, ramp up outsourcing again, and mass layoffs. The cycle never ends
Ohhh noooo the worst team at USAA had a 1% layoff.
@bh I’m sorry you were impacted. Which area in MP were you?
Laid off in the Fraud Department. Mass layoffs. The writing has been on the wall. All the outsourcing of 3P detection teams… using cheaper programs. I should have started looking earlier. New management comes in and tries to push a different bank culture into the existing. It’s a recipe for disaster. They are 100% going to go back on the naughty list with consent orders. They won’t be able to keep up with the fraud. They’re already hemorrhaging millions due to auto loan fraud. I always brought up the issues but it was always “the other departments problems”
Fuq. Fraud got me. It’s been an honor guys.
Member Protection Quality - all areas, Fraud, AML, Claims
Data & analytics
Member protection Fraud
Bank fraud was hit.
My manager was impacted along with 3 on my team.
Just notified an hour ago.
Here is my list:
- Data
- CFO IT
What is going on news is spreading about organization shifts
AI have any impact?
Can confirm. Talking with a former colleague that is in Fraud, and she confirmed that her boss and some teammates were let go and she was reorganized to a different team.
Bank Fraud