To date in 2023, USAA has laid off more than 900 employees.
USAA has been one of San Antonio’s largest employees for years. The organization employed 19,000 local workers in 2022, according to the 2022 Annual Comprehensive Financial Report from the city of San Antonio. However, another round of layoffs marks the third time the company has cut jobs this year, taking out another 300 employees from across the organization.
“USAA continues to make necessary adjustments to run a healthy business and provide members with exceptional service and competitive prices. After careful consideration, we made the difficult decision to eliminate approximately 300 roles across most of our offices and different functions,” USAA spokesperson Christian Bove told the Business Journal. “USAA continues to hire but this reprioritization is necessary due to changing business needs.
Bove also confirmed impacted employees are provided assistance to find roles “inside and outside of the organization.”, with most coming from the bank’s mortgage service department. Another 475 jobs were eliminated in April, which represented just over 1% of the the organization’s total workforce.Earlier this month, USAA posted losses on its annual balance sheet the
. The company reported just over $36 billion in revenue in 2022, which was a 3% decline from the previous year.
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