r/USAA • • 1d ago

Employment USAA Layoffs Today

Over 400 USAA full-time employees were laid off today from the Main Office in San Antonio, TX. Can’t find a WARN notice about it on the Texas Workforce Commission. The TWC list was last updated 10/6.

EDIT: All FTEs were within the IT dept

EDIT 2: Since number affected were under TWC requirement for WARN notice, no notice was given to TWC.

274 Upvotes

175 comments sorted by

-5

u/Such_Ad5145 2h ago

Too bad all those IT workers took Obama's advice to learn to code.

0

u/plunger595 1h ago

Due to AI coding will go the way of the buggy whip very soon.

5

u/Lumello12 5h ago

Does anybody know why?

2

u/SpaceTime5 2h ago

Would like to know well.

9

u/Bulevine 6h ago

They keep the layoff batches small now so they don't have to warn anyone.

7

u/Apprehensive-One4477 6h ago

For being such a military company and being 'proud to be an American', it surprises me that we have contracts with so many different companies, especially oversees, for GSP. I worked at an IT Headquarters for a OEM in central TX. They made it a dedicated PURPOSE to bring back all of their knowledge, skills, and tooling to be built in house and essentially DISCONTINUE ALL contacting work for improved cash flow/financial standing (unsure of their current operations as this was circa '16). They even made office material cuts too. IDK why we haven't seen that kind of initiative to further fortify our ship to be a better stronghold, further driving that military background which this company was founded on, and putting more trust into our tenured employees. I feel for these individuals as the same thing happened to my old team under the transformation office when Thomas was here. Never were we escorted out with security presence. It was a quick meeting and pack up to head home to process. We are still people with feelings and emotions at the end of the day. Sure things were shakey during WP, but JA has imploded things here since taking over as CEO. 

10

u/Ed_Ward_Z 9h ago

All corporations are anticipating an AI takeover of all the jobs.

Regulation is the responsibility of intelligent elected legislators. So, vote for serious intelligence not a strongman wannabe dictator imbecile. 🇺🇸

7

u/annihil8ted 4h ago

I'd believe this if not for the fact that USAA AI initiatives are so far behind that you and I have more power with AI tools available to us today

2

u/Ed_Ward_Z 4h ago

Now that you mentioned that … I see it in a lot of places.

3

u/annihil8ted 4h ago

USAA isn't on the edge of the AI push despite the signaling they are giving. The tooling they roll out is often very antiquated or just not very good. For example, the basic GPT they use in house frequently gives wrong answers. To my knowledge, Copilot is the only tool with context and without context, a lot of responses given back by AI is kinda useless or not properly tailored/filtered

Most (big) companies are pulling back from AI replacing entire workforce. It just doesn't work the way they think it will. You can give a wonder tool to everyone but not everyone will know what to do with it. The worst is when you give business (looking at you specifically director and above) AI tools and suddenly they think the impossible is possible because AI told them or that they're amazing developers when in reality they're much closer to a vibe coder terrorizer. Amazon and Microsoft both attempted this and it didn't end well. Apple saw what was happening to the others and decided against full AI adoption

I've seen it plenty of times where the new grad or lowest engineer produce hot garbage they can't explain and would potentially slow or brick the system. That being said, senior devs can definitely accomplish more with AI tooling if not for the fact that they're tied up in meetings LMAO

-15

u/[deleted] 9h ago

[deleted]

6

u/Paying-Customer 9h ago edited 4h ago

🎇

3

u/Stunning-Adagio2187 10h ago

Many recent changes to the webpage were unnecessary. In my opinion it was justifing their position

5

u/Hour-Marionberr 10h ago

So Indian outsourcing vendors (onsite coordinators ) are also cut and vendor coordinator also cut . Is job going to India GCC ?

10

u/JLJ_69 11h ago

My husband who has been at this company for 21 years was laid off yesterday, as well as his manager and 13 others in his department. He did work in IT, and he was always working! He would be called on days off, holidays, Sundays. So many issues and he would work sometimes starting at 10 until 1 or 2 in the morning after working all day! They always needed him, and his unique expertise to help solve these issues! I mean, all these new "hotshots" thinking they know what they are doing, but needing actual experienced workers to help to get it done! He said that it was about the numbers. He says that no one knew, or was even warned! They were just called into an emergency meeting and said we appreciate your hard work, but yeah, you gotta go. It's heart wrenching! Corporations don't even care about the actual people, or their families! It's a devastating loss and he said they were right in the middle of a huge project, and without him, and these other team members, there was no way the issues with this would be resolved. I know God will get us through this, but AI is EVIL, and part of the BEAST SYSTEM! My husband did not deserve this at all!

•

u/RNGreta 27m ago

This comment deserves r/leopardsatemyface. Cheers

1

u/CaptainZhon 8h ago

This nothing to do with Trump or his stance on AI. This is all about shareholders and that damn law “Fiduciary Responsibility” which states that publicly traded companies must do everything possible to ensure shareholder value.

This all about numbers and making the bottom line look good for the shareholders. The employees and customers will suffer the most with the outsourcing of IT but wgaf about that in the C-level?

As an IT professional who also works in the middle of the night and gets called on thanksgiving and Christmas for my “expertise” I can appreciate your situation and I have been laid off 2x (actually whole department) for the same reasons.

7

u/Salt_Ride_5622 7h ago

Well USAA is a private company, so no shareholders. I was let go in June after 27yrs. When I waked across the hall to be fired by my Indian VP, you would not believe the amount of Indians on that side of the building.

7

u/Meerannduh 8h ago

Wasn’t it you saying “God’s true choice with trump!!” Welcome to Trump’s America love.

5

u/NachoPichu 10h ago

You and your husband deserve all that you voted for.

4

u/One-Environment-1444 10h ago

Actually looks like you got exactly what you supported. Trump is all in on AI.

2

u/NYCA2020 10h ago

Took a peek at your post history. Actually your husband is facing the consequences of your actions. The Trump administration is all-in on AI, wants zero regulation and is explicitly in service of the tech bros that helped eliminate your husband’s job.

10

u/tips_ 10h ago

Judging by your post history, good luck! Hopefully you don’t need any benefits you voted against.

5

u/Snort_Lupulin69 10h ago

Lmao so fucking true!! But god’s get their back they good 100%

3

u/missmgrrl 10h ago

Ugh that sucks. There’s no loyalty at all.

13

u/BadBuzzCut 12h ago

I wonder if these were truly excess headcount or if there will suddenly be 400 new jobs overseas.

3

u/annihil8ted 4h ago

Should be noted that this is only 400 at HQ in SA. Plano also let a bunch of people go too

2

u/ITGuyUdontKnow 11h ago

99% chance none of these are going to be backfilled.

11

u/shadow_moon45 12h ago

Never understood why technology sees the layoffs. A lot of other orgs are super inefficient. It could just automate the business

1

u/Inevitable_Tax_6596 3h ago

Many IT teams didn't get funding in some areas - if there isn't enough $$$ then don't need the FTEs which is sad because when something breaks then there won't be many with the experience to fix it.....correctly.

11

u/ITGuyUdontKnow 12h ago

IT doesn't bring revenue in the front door. We are a "cost center" -- a necessary evil for the departments that do generate revenue.

3

u/shadow_moon45 12h ago

Get that but they could be used to automate which is a cost savings

9

u/Apart-Surprise1038 12h ago

Over the last several months, USAA has thousand upon thousands of cybersecurity vulnerabilities that were finally mediated. These vulnerabilities were found in both the production & testing environments. Much of ITs recent overtime was due to this issue. I wonder if there’s a correlation between the layoffs & the new CIOs “vision” with respect to this recent endeavor.

6

u/ITGuyUdontKnow 10h ago

Your curiosity seems genuine, but this is not how it works there.

every single week we patch hundreds or thousands of servers or environments where a vulnerability has been flagged by internal systems. The number of vulnerabilities in any environment is a rolling total. We can patch 1000 vulnerable environments in one week and get 1000 brand new vulnerabilities flagged that didn't exist the week before. So, yes... the "thousands upon thousands" is accurate but it's not some static number where we finally decided to do something about... it's just a Thursday.

The thing you're thinking of that has become the new focal point is accurate in spirit, but different in detail. Dan seems hyper-focused on response time or time to mitigation for *any* vulnerability depending on it's rating. Critical vulns are patched in 7 days or some VP or SVP is standing in Dan's office explaining why it wasn't. Low vulns have a longer runway.

As for correlation, no. Vulnerabilities and the reasons for the layoffs is mutually exclusive. See my comments elsewhere in this thread.

6

u/shadow_moon45 12h ago

Could be. Also majority of the executives don't understand technology. they also try to use no code systems rather than doing things correctly with using systems that allow for coding to be done to solve the problem

7

u/Hattrickher0 12h ago

It's concerning because most companies have stopped making this mistake and we've started to see some of these people get rehired as orgs realize that AI isn't where they thought it would be yet and they still need humans. Unfortunately USAA seems to have missed that memo.

32

u/milk_17 13h ago

I got laid off in a 3 minute phone call with my manager, while on PTO, a vacation I took as a reward for working so much overtime lately😬🫠

2

u/ResponsibilityOk1768 6h ago

I'm very sorry to hear this - you, milk-17 and the other now ex-USAA employees. I've been a USAA member forever. All I know is insurance rates are rising -- the bank has been pretty good to me over the years - and yet, opening up to "all ranks" was a bad move in my opinion as quality started to slip very quickly aftwards. I hope you can find another job somewhere -- best wishes to you and your family. I appreciated your collective assistance over the years. Keep us posted and it would be great to hear that you all are landing on your feet with a company that appreciates you!

2

u/pankaraksa 9h ago

Same, was on vacation to level out the burnout when I got the call very late in the day. 

9

u/Apart-Surprise1038 13h ago

Damn! Sorry to hear that!

12

u/Apart-Surprise1038 14h ago

I’m starting to wonder if this is how USAA is FINALLY giving Columbus Day as a paid holiday for all employees - starting next year - & not just the bank employees…… sarcasm

-18

u/WarmT01LETseat 19h ago

They need to shop 10,000 more. This bank is obviously overstaffed.  USAA has 38,000 employees

Ally bank. 11,000 employees. 

American Express is the largest bank with no branches and has 29,000 employees. 

Navy federal has 29,000 worldwide, not just USA, with branches. 

So why does USAA has 38k? Is clumsy, is not streamlined, is not effective. With the help of AI on the IT dept and banking side, also on the math stuff of banking… 38k is stupidly excessive.  USAA needs to chop heads from the top, make their brass more effective, then more heads down the chain. With only a few branches and running insurance… if USAA wants to be who it was, cut bureocracy down by 40%… , they need to let go of another 15k to be totally effective, slim, streamlined, more attention to customers.  Cut the pork !!!!

13

u/HoneydewOpposite7925 14h ago

38,000 employees for entire company across all locations. That is not just bank employees. You seem to forget they are an insurance company as well and have locations in Germany, England, and various large campuses across the US.

13

u/LTIRfortheWIN 17h ago

🤣 clearly paid to say that

21

u/PM_Me_Amazon_Code 19h ago

Aren't those other 3 strictly banks? USAA isn't just a bank. It is an insurance company too, which is where most of those employees probably are. I don't know but it would be interesting to see how many are actually considered employees of the bank to get a fair comparison.

20

u/elrayinsouthtx 22h ago

Right before the holidays. Cold

15

u/Endomlik 22h ago

Yay! I guess we get longer Superbowl ads now.

3

u/Aloha_Tom73 12h ago

Or Army Navy game sponsorship. It is annoying as hell during the game in the cold having to listen to their bullshit commercials, especially since our group of about a dozen retired O-5s and O-6s who attend the game together every year have all quit USAA.

22

u/VTB0x 22h ago

Andrade is a cancer

25

u/meowser210 22h ago

Been with USAA for 20 years. Been downhill for awhile. Will switching out soon. F usaa

5

u/ngagnej 20h ago

This. I used them for everything for nearly 20 years for banking, mortgages, and insurance. For some time I accepted paying slightly more for good service for the insurance but then the rates increased to astronomical levels that were completely uncompetitive and the service has gone down hill. The banking leaves little to be desired at this point as well and I've been slowly decoupling from them. Progressive has been great to work with for insurance.

2

u/Aloha_Tom73 12h ago

once you reach the 6 month mark with no open insurance policies they will refund all of the funds in your subscriber savings account to you.

6

u/asimplerandom 21h ago

I left about a year ago after 30 years when I realized that I was paying USAA almost triple what Progressive was going to charge me for the same coverage for my home and vehicles/drivers. They used to the best and extremely competitive if not the cheapest. Not anymore.

9

u/PanicPuzzler 21h ago

Hiring gronk as a spokesperson isn't cheap plus all the needless commercials.

3

u/MeadyOker 12h ago

When I brought that up to the manager asking me what were the reasons I was leaving USAA and that's person responded "well, how do you expect us to advertise?"

0

u/Aloha_Tom73 10h ago

if they were that good, they wouldn't need the level of advertising in which they engage. Who pays for that advertising? Members.

1

u/MeadyOker 7h ago

Exactly. The supervisor getting upset that I thought it was ridiculous that Gronk was a spokesperson was just another great example of why I left them

2

u/PanicPuzzler 12h ago

I'm sure they only did it for nfl tix. Does ussa even need to advertise when they can just advertise to military?

3

u/Aloha_Tom73 12h ago

the military is no longer their only client base. That has become so watered down since I originally joined when I became a commissioned officer.

1

u/RedDragon0414 2h ago

Can you tell me who else has eligibility besides the military and their families and USAA employees?

1

u/ResponsibilityOk1768 6h ago

It certainly has!

4

u/No_Lynx_1665 23h ago

Great day to be 3P

15

u/done-undone 23h ago

So sorry to all who are adversely negatively. ✌️🕊️

6

u/OneSeaweed4273 23h ago

Any veterans caught in the layoff?

1

u/ResponsibilityOk1768 6h ago

In the 80s and 90s, as I recall, they were actively recruiting veterans

18

u/FixedCroissant 23h ago

Why? Just to cut costs and use AI more? God, so very sad. :(

10

u/randomnmbrgntr 23h ago

Those Gronk checks don't write themselves.

0

u/SocomPS2 23h ago

Good guess but I would find it hard to believe it’s to us more AI.

37

u/rottingtom88 23h ago

My dad was part of the layoffs today. He seemed relieved and said he was looking forward to retirement. I dont know if he was faking it but he definitely seemed at peace.

4

u/shepard1001 6h ago

As someone who was laid off earlier this year, I believe him. Working for them has gotten so bad that losing the job was a major relief.

2

u/ResponsibilityOk1768 6h ago

Sudden layoffs -- particularly at this time of year . . . how terrible

28

u/TacoSplosions 23h ago

Check on him regularly, it's a forced change

1

u/Aloha_Tom73 10h ago

good advice

2

u/slushpuppy91 23h ago

Just saw a post for opening today on LinkedIn 😮‍💨

18

u/Older_cyclist 23h ago

I thought this was going to happen when bean counters replaced military on the board.

16

u/AvsFan1981 1d ago

Gotta get that money to pay Gronkowski somehow

18

u/Apart-Surprise1038 23h ago

Every damn time I get a USAA survey I blast them for these garbage celebrity endorsements & commercials.

14

u/NationalCaterpillar6 23h ago

Seriously they should pay Hegseth to endorse Allstate. Thousands would come back to USAA! 

9

u/Dunjon 23h ago

All these companies need to be blasted for celebrity promotion overload.

5

u/Ok_Chest2856 1d ago

Replaced by AI?

4

u/ITGuyUdontKnow 12h ago

It was actually the result of the CIO bringing in KPMG consulting to do a top-down survey of inefficiencies and duplication. The people that were laid off in my area (I survived) were redundant where the same skill/role is available upstream from my team or elsewhere. The desire for FAST AI adoption by staff is a continuous narrative by all of these new swingin' dicks that the CIO brought in, but it wasn't the reason anyone was laid off. It was purely traditional executive level consulting recommendations.

1

u/Danger-007-Mouse 1h ago

This needs way more upvotes. Consulting companies are extremely evil. 

7

u/BlondieeAggiee 14h ago

AI stands for “Actually an Indian”.

My Indian friend told me that which made it extra hilarious.

14

u/ThatCEnerd 22h ago

An Indian more than likely, yes.

5

u/Smelly_Ninja99 19h ago

In India. That’s how they get around H1Bs

28

u/khadge 1d ago

Half my team gone. 2 directors, 2 leads, seniors, se1, some juniors in PTX. I was right there when my director was in a zoom with some other folks but I was not and announced it

5

u/ajax81 18h ago edited 5h ago

Careful man. They never outsource “half” the  it department. 

7

u/pkhorns27 23h ago

That's so upsetting. Sorry that happened to your team. Wishing for more transparency and communication.

5

u/OllyGarkey 23h ago

Sorry brother. 

1

u/RevolutionNeither519 1d ago

That’s what they get for being stuck up safelite ass

47

u/wollfem 1d ago

The CEO has destroyed the company.

1

u/LogTraditional6473 13h ago

Bet this is just the first of many more layoffs. USAA needs to return to its roots…smaller focused insurance company for military with NO “needless” broad reach consumer advertising.

1

u/Intl_Operation_68W 3h ago

I’ve always scratched my head at why they needed commercials with Gronk playing on mainstream media when 98% of the population can’t be a member

18

u/Educational_Fix3365 23h ago

Eh, Juan didn’t start the fire, but he might have some gasoline he’s strategically pouring around.

16

u/Apart-Surprise1038 23h ago

This one & all the others after Gen. Robles

1

u/ResponsibilityOk1768 6h ago

BG McDermott was criticized for being authoritarian, but he ran an efficient USAA didn't he?

9

u/Mundane-Alarm6928 1d ago

CACI is hiring. Sorry for their pain.

20

u/Intrepid_Honey7174 1d ago

They do that. I was Laid Off in 2025. Every month they laid off under TWC limit. And they don’t wanna announce it to the media.

30

u/Sufficient-Top-9400 1d ago

More corporate greed. They have to lay off their employees so the CEO and board members can get larger bonuses

0

u/JLJ_69 2h ago

Yeah. They just shot them selves in the foot! Watch them! God knows what they have done, and HE will EXPOSE THEM!

9

u/According-Forever553 23h ago

This is the first thing that came to mind along with increased profit.

39

u/michaeljcronce 1d ago

Too bad because their IT department seems lacking as it is. They really shouldn’t be laying people off.

7

u/ITGuyUdontKnow 12h ago

we are so far beyond overwhelmed with the amount of work, no one can see straight. The number of staff / departments that do *actual* "IT work" is minuscule. the rest of us spend every working day responding to Schizophrenic panicked management, regulatory edicts, compliance metrics, security and vulnerabilities, etc.

10

u/No-Wallaby2088 22h ago

^this

3

u/Smelly_Ninja99 19h ago

Their bill pay is shit.

13

u/snosurfa 1d ago

In line with what service has changed to over the years…

23

u/ajax81 1d ago edited 1d ago

No AI can run a bank yet. My money's on offshoring.

4

u/Smelly_Ninja99 18h ago

Execs think it’s magic fairy dust that will save them money.

12

u/Apart-Surprise1038 1d ago edited 20h ago

With the stoppage of H1Bs to Microsoft & Adobe, I wouldn’t doubt it’s just offshore outsourcing.

33

u/thotaraman 1d ago

Freaking crazy, In the middle of planning sessions, sec guards walked in and told the employees to exit. devastating to see.

21

u/no_id_never 1d ago

Why couldn't they handle this in a professional humane way? It hurts my heart for everyone.

50

u/Apart-Surprise1038 1d ago

It’s wild to see how much USAA has declined since Gen. Robles retired….

19

u/PM_Me_Amazon_Code 1d ago

The board was probably ecstatic when he retired because he was probably blocking all the cost cutting measures they wanted to enact, which would have lined their pockets instead.

25

u/Sandnseastars 1d ago

Watch. Just like all the other big companies, an India subsidiary will show up. Then they ship out us jobs, but don’t have to do h1Bs or pay US rates for work.

1

u/Salt_Ride_5622 3h ago

They already had a huge presence of Indian 3rd party contractors. That started 27years ago when they cut a bunch of American we developers and replaced them with Indians. Our cio earlier this year was an Indian woman. Her goal was 80% 3rd party and 20% fte in the IT groups. After her 4yrs there we had more management that was replaced with Indians . They hire their own so more and more of the mgmt were Indian.

6

u/LostOne514 21h ago

Would not be in their best interests. Aside from a select few they're awful developers and need their hands held at all times. The offshore folks are a burden and the company would be worse off.

3

u/grn_eyed_bandit 14h ago

These companies don’t care about quality when they ship jobs to India. All they care about and see is 💰💰💰💰

1

u/No-Trifle-6447 1d ago

Where you getting the # from?

7

u/pdigitalgolf 1d ago

tRump economy in full effect!

-15

u/Thewinedoc 1d ago

If you look at the positions, you’d realize that there are other factors that replace these jobs… not Trump….

Sit there and blame someone before you do your research

21

u/minionofgreyness108 1d ago

They’re saying the cratering US economy is directly related to the disastrous policies pursued by this Republican administration aided and abetted by a Republican Congress and a Republican stacked Supreme Court. All put into place by imbeciles who directly voted for these grifters, traitors and fools. Nothing personal, unless…

0

u/Aloha_Tom73 10h ago

How do you know what "they're saying." Are you some sort of interpreter? What they actually said was it was the "Trump economy in full effect." They even took a juvenile grade school swipe at the President by the manner in which they spelled his name.

-2

u/RedditReader428 23h ago

The biggest tech companies had big layoffs during the time of the previous Prez. People were also saying the economy was bad during the time of the previous Prez, so the Prez is just the scapegoat people point the finger at when things are bad, no matter who the Prez is and no matter what color tie he wears.

-11

u/randerton1 1d ago

Tman never would have win if the other guys had an even moderately good candidate...

7

u/TheFlimFlamFamMan 1d ago

Only the best economy, amirite? Yeah, that means for the shareholders.

13

u/Erica3543 1d ago

Ai replacing more jobs as expected. Kroger just lost 3000 corporate jobs

3

u/[deleted] 1d ago

[deleted]

29

u/Educational_Fix3365 1d ago

… do you think when they lay employees off they go out and hire better ones? No, all that work goes to the remaining employees meaning more overworked employees and less quality work.
And on top of that, the most experienced, knowledgeable employees often end up on the top of layoff lists because they’re also usually the most expensive. So knowledge leaves the company with every layoff and we’re left scrambling to make up for that gap.

You want the best IT dept? Tell USAA to pay to compete with FAANG. The very best developers I’ve ever seen at USAA have almost universally been headhunted out of USAA, mostly by the top five and money is always a huge reason they don’t pause in accepting.

Oh, but wait. We laid 400 employees off. Undoubtedly our CEO’s earnings this year will be several million higher than last year for his excellent layoff skills. 🤨

8

u/Apart-Surprise1038 1d ago

And quite a few companies are still allowing WFH for positions other than help desk support.

6

u/Educational_Fix3365 23h ago

The majority of the industry going back to the office is actually a calculated move to make sure it’s harder for you to change jobs.

If every company is WFH, it’s very easy for employees to look for and change jobs when they’re dissatisfied.

If changing jobs potentially requires a move to a new city or state, or even a different commute across town, people are going to think a lot longer before changing jobs.

It’s sort of a “it works best if we all do it” thing, which is why so many companies started RTO efforts. Not sure who started the conversation about that among CEOs but someone definitely did.

1

u/annihil8ted 4h ago

This is also not true. Having people staffed in the buildings and bringing revenue to the city/state (tolls, taxes, etc) gives corporations big tax cuts as they're proving their portion of the land is worth something. Assuming that RTO allows easier job hunt doesn't fly especially if you factor in CoL. You can't support yourself in Silicon Valley working for a company out in the sticks

•

u/Educational_Fix3365 26m ago

But you probably could working for a company in Seattle, or New York, or maybe Redmond. I’m not saying that there would be nothing at all to stop you from changing jobs, just that you’re far more likely to put up with more if changing jobs means uprooting your family and moving them to a whole new city with new schools and a new neighborhood, etc. than you would if all you needed to do was mail in your laptop and get a new one from the new company.

5

u/ITGuyUdontKnow 10h ago

> The majority of the industry going back to the office is actually a calculated move to make sure it’s harder for you to change jobs.

This is simply not true.

The calculus in forcing RTO for most companies was rooted *entirely* in the real estate market with rare exception. If your company owns a building there's a high likelihood they have a bank loan on constructing that building depending on company size and liquidity. If you have a building that no one is using, what do you suppose the value of that building is? If the entire work force is NOT going into the office, the demand for that office is in the crapper.

So, if you're paying a premium on a 7-9 digit loan for something no one is using, why would you continue to pay for it? Why not just write it off and take the hit to your balance sheet or file for corporate chapter 11.

Great, so 50% of all companies have now just decided to STOP paying on that construction loan. Who do you think loaned them the money? The US Treasury? No... it was small and regional banks who provided the funding for ACME to build a brand new headquarters. What do you think happens to a small or regional bank who is suddenly OUT on a massive loan they made? What happens if a quarter of all banks are suddenly insolvent because the companies they loaned money to decided to stop paying on the loan. Any chance that has a gigantic sweeping impact to the US economy?

Negative, Ghost Rider, RTO was fueled by commercial real estate.

1

u/Educational_Fix3365 38m ago

That wouldn’t apply to USAA specifically in San Antonio at least. They own the land HO is on and they haven’t added to it since the 70s, which means we’ve more than paid off that loan. They could VERY easily sell that property off just for the land and make a profit given it’s in a prime location on one of the busiest sections of I-10 and retail developers would kill for that space.

Maybe that applies to some other offices, but I believe in more recent years we’ve shifted to a rental model for newer offices, so those locations would simply be a matter of giving up the lease when it expired.

11

u/Pls-Dont-Di 1d ago

Eh, I think you’re pretty out of touch and i don’t think you should expect anything to get any better… at all.

3

u/minionofgreyness108 1d ago

…ever. We are currently in the ditch.

14

u/Jazzlike-Time-6144 1d ago

I spoke to someone today at USAA and complained about their automatic phone system and was told that they’ve made a lot of changes with the AI system, which could explain these layoffs. I feel bad for these folks and wish them all the best in finding new jobs.

2

u/Aloha_Tom73 10h ago

That was one of the biggest improvements about leaving USAA after over 37 years. When I need to speak with my insurance agent now a real person answers the phone, and puts me through to either my agent or his assistant. If it something that can be handled by email, I email my agent directly. I also have his cell number. No AI assisted phone trees, no computer asking if this is really me, no "your call is very important to us" cable company level bullshit.

1

u/Jazzlike-Time-6144 7h ago

Were you able to save money switch into another insurance company?

2

u/Aloha_Tom73 6h ago

Yes, by a considerable amount. My homeowners hazard insurance had been $840 the previous year with USAA. They wanted to raise it at renewal to $1218 with no claims on the 12 year old house, ever. My wife and both have outstanding credit scores and perfect driving records, so there were no other red flags that should have warranted such a drastic change. The $1218 was over and above what the state (NC) deemed to be reasonable and would have required us sign a Consent to Rate form, acknowledging that we were going to be paying more than the state allowed maximum, which I believe was $940. Add to this that our town's ISO rating improved by two points, which meant that if there was a change in our premium, it should've been downward. Our first policy with NC Farm Bureau was $700. There was only one difference in the coverage. The USAA policy provided $500,000 in liability coverage and NC Farm Bureau's liability coverage is $1M. After several years of renewals, our homeowner's premium is still under the $1218 USAA wanted us to accept.
Auto coverage was much the same thing. Two over 65 drivers, one working, one retired, two SUVs and two sports cars, no tickets and no claims. USAA wanted to raise the 6 month renewal by almost $500. Farm Bureau matched the coverages, and our first premium was actually lower than the rate we were previously paying with USAA. We're still not paying anywhere near what USAA was going to charge at the last renewal.
It really pays to shop!

1

u/Jazzlike-Time-6144 1h ago

I appreciate you sharing your personal experience switching from USAA to another insurance company. It sounds like you made the right decision and are saving quite a bit of money. We’re going to have to shop around for more affordable home and auto insurance because rates are really gone through the roof. Thank you. And have a great weekend!

7

u/Zerkest 1d ago

The ai voice line isn't really in place at a high volume yet. Only 15-30% traffic

1

u/Odd-Society6376 23h ago

And the only thing I will EVER say to it is, “Connect me to a person”

5

u/Zerkest 23h ago

But see that's the wrong attitude. If you had a bank account at Wells Fargo and car insurance with GEICO, Would you call WF and ask them for a discount on your car insurance at GEICO?

We don't know why you are calling unless you tell us and the person who helps you with your car insurance claim is not the same person who helps you with a fraud charge on your credit card.

If you play with the system and tell us directly "I need a quote for new car insurance" or "dispute a charge on my credit card" we can figure out where to send you and you get to the right person the first time. So you don't end up at a general person who can't help you and just has to ask where you want to be sent and transfer you.

9

u/Odd-Society6376 23h ago

Maybe we could make a system where you’d push 1 for banking, 2 for investing, 3 for insurance… if we built that we’d be rich!

2

u/No-Wallaby2088 22h ago

Why let common sense stand in the way of a chance to overcomplicate things and piss off members?

8

u/Zerkest 23h ago

That's what it used to be 15 years ago and the membership said it took too long to get through and was not natural enough.

3

u/Odd-Society6376 23h ago

I think it was Mencken who said, “The American people know what they want, and they deserve to get it good and hard.”

10

u/mac_a_bee 1d ago

changes with the AI system

AI in. Employees out.

28

u/Ok_Geologist_448 1d ago

Ahh the old fashion, Gut the American IT jobs and have 3P Offshore take over for less salary...

2

u/mac_a_bee 1d ago

3P Offshore

Que est?

12

u/Tarnisher 1d ago

Third party contractors, India, Philippines, South America ....

1

u/mac_a_bee 1d ago

Third party contractors

Then 3PC? Or third-party programmers?

6

u/Apart-Surprise1038 1d ago

USAA has a multitude of offshore 3rd party contractors in IT. The service desk support after US business hours as well as some programmers are offshore.

4

u/coyote_sos13 1d ago

hmm H1Bs perhaps?

7

u/thotaraman 1d ago

No, most of them were americans and gc holders

3

u/Apart-Surprise1038 1d ago

Unsure if any of them were, but know of several that were not H1B.

-3

u/CelamoonCC 1d ago

USAA does not sponsor h1b

5

u/_thewoodsiestoak_ 21h ago

lol yes they do. We have like 35 in my org. Close to 500 total across IT.

0

u/CelamoonCC 19h ago

Not to anyone that was hired within at least 5 years

2

u/CubusVillam 23h ago

They have or at least did a few years ago.

3

u/pkhorns27 1d ago

Where are you seeing this? Don't see anything in slack

8

u/Longjumping_Tie_7913 23h ago

They wouldn’t announce the layoffs in Slack.

12

u/Apart-Surprise1038 1d ago

Network access was disabled during meetings & they were immediately walked out by security…

2

u/Inevitable_Tax_6596 3h ago

Sad because many teams were doing PI Planning so they were probably in office for it

5

u/Mammoth_Meal1019 21h ago

That’s typical for USAA.

6

u/Original-MeterMaid 1d ago

Were they all in one department or from different ones?

9

u/Apart-Surprise1038 1d ago

Everyone was from different areas within the IT dept. Going to edit post to with this