The bonus structure and 401k match seem to be declining every year along with the morale of the workforce. The culture has gone from a stable regional bank to a constant whirlwind of trying to “pivot” to find a way to stay profitable and please shareholders. The acquisition of Luther Burbank Savings may have been the inflection point for this bank. Ever since acquiring a failing bank it has been one bad decision after another. The staff used to be treated great and is now more of a number than anything else. There a frequent restructurings of departments and teams which causes concern and almost all of my old colleagues felt uneasy and were starting to look for other opportunities. In my opinion, the uncertainty about the current economy is the only thing keeping the turnover from getting out of control.
