Location: Minneapolis, Minnesota.
Based on news reporting.
U.S. Bancorp has announced plans to lay off approximately 500 employees starting January 15, 2025, as part of a restructuring effort aimed at streamlining operations and reducing costs. The layoffs will primarily affect positions in the Minneapolis headquarters, reflecting the company's response to changing market conditions and a need to enhance efficiency. This decision comes amidst broader trends in the banking industry, where many institutions are reevaluating their workforce in light of economic pressures. U.S. Bancorp's leadership emphasized the importance of these changes to maintain competitiveness and adapt to evolving customer needs.
U.S. Bancorp cut 500 jobs as of January 15, 2025.
That is roughly 0.7% of the 70,000 people U.S. Bancorp employs.
LayoffTalk has tracked 2 layoff events at U.S. Bancorp since January 2025, affecting a combined 500 employees.
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