Thread regarding Truist Bank layoffs

Suntrust did the the same thing in 2015, cut most of the system administrators and engineering, come 2016, they started rehiring fte's again when the offshore people were not cutting it...Here we go again...lol

@4ile+1tsJwl3H

There is a he-l and we are living in it.

They deserve everything bad that should happen to them

• I wish there was a he-l..

I’m glad they read this but it won’t make a difference. They do not care at all what is posted on here or how teammates feel.

Executives read this site. Be sure to tell them how you really feel.

It was not just Operations that was affected. There were teams in Engineering impacted but not to the same degree as Ops. 700 seems high. I heard it was in the neighborhood of 400 and 270 were going to be eligible for positions at Accenture. Nobody will be given the opportunity for a position at Cisco if they are on a network team.

@3bvp+1tsJwl3H

You need to file a complaint with the CFPB. Here's a link on how to do so: https://www.consumerfinance.gov/complaint/

Stop relying on truist to do the right thing. They won't. File the complaint.

I spent some time looking over/running numbers to get an idea of the scope and quantity of people laid off. It was 7/11 people from my team, a neighboring team had just around that or split in half. Seems to be under only operations who were let go. We are looking at approximately 700 employees in total. Ranging from talented work-horses, to mouse-wiggling parasites.

On another note, without sharing confidential info - the bank is mediphorically on fire with high priority issues starting on Saturday night. Looks like people are not as productive just as predicted would happen when you vaguely announce a layoff in a 5 min video without taking questions. Nobody knows where they will be next week, so everyone is redirecting their efforts in revising their resumes.

I use to bank with BB&T I knew when they merge with Suntrust it was going to be a disaster. I didn't stay with truist long before I started having problems with the bank. They took money out of my account that shouldn't have taken it out. I've been fighting them since 2022. I still have not gotten my $266.00 back. They keep given me the run around about it. The sad part about it is the manager of Truist could not help me with the problem.

Anyone have to get on a last minute Town Hall call week before last? The purpose as a new department being added just to bring big money to Truist? Also, I work in the back office and no threads of communication access. What’s the scoop on those that have left over the last two weeks? I do know a couple of loan officers left on July 3rd because they were just DONE! The hypocrisy of our employers is never ending, no matter which area of the bank.

There’s a select few leaders that think this a good idea. The rest of the leaders in CT&O are “supporting” the effort as they basically have no choice but most leaders also think this is a really bad idea. It’s sad that this was started by Dan and Scott who were not technical and are no longer here and it’s still being pushed forward by those few leaders that are convinced this is a good thing. I also heard rumblings that this is actually going to cost Truist MORE than just keeping the FTE’s. That’s how crazy this is.

Maybe this is the norm for anyone that came from SunTrust but this is so far from what BB&T would ever do. This merger should never have happened. BB&T was a great company to work for and a great bank before the merger. That’s all gone now.

This plan for the MSA with Accenture and Cisco started before the breach. They’ve been working on this since last summer.

@2kuq+1tsJwl3H

The fact that you think the people losing their jobs had anything to do with the breach proves you’re an id--t and have no clue what you’re talking about.

These guys all deserve to lose their jobs because of the security breach, good riddance

Offshore replacements have no future either. In the not too distant future, AI will replace most anyone that's flesh and blood.

“This is happening because of the security breach, management has no confidence in IT, great work guys.”

Wait until Accenture is running the show and watch the breaches and stability issues skyrocket. I can’t wait for the day when I get to say I told you so and we laid off the people that know the systems well enough to fix an outage.

This is happening because of the security breach, management has no confidence in IT, great work guys

That’s good feedback. Thanks for sharing. I still think the original poster is correct. Most from CT&O going to Accenture will likely lose tier jobs in a few months as the over arching goal is still to move roles to offshore. They may keep some onshore Accenture but I suspect it won’t be that many.

For anyone being converted to Accenture I hope I can shed some light. First off, I feel for you and your teammates. I was selected to go Accenture during project star, but I found a much better job and I'm really happy I left. Most of my teammates stayed and they seem happy? Trying to not be all doom and gloom.

Pros:

• Banked PTO paid out from Truist (you get this either way)
• 2% more 401k match
• Alleged training opportunities or going to work for another client after a year.
• One time 4% 401k contribution when you start.
• One time PTO payout from Accenture if there's a difference, likely will be.
• Years of service matched.
• You have a job

Cons:

• If you have a high deductible plan you get sc--wed.
• No opportunity for severance.
• No Pension
• You'll likely be offered your current salary, no negotiations.
• Much, much smaller bonus if you get one.
• Your role is probably not secure, but it's not at Truist either.

I found a better paying job that's much better for my career and I wish I would have left sooner. Take some time to process, but trust your gut if you want to get out. It's not as bad as people say, but it's a grind. Start interview prepping now and take whatever interviews you can for practice. Best of luck!

"There's quite a few managers that manage zero people."
LOL! Truist just gets crazier every day, I swear!

@2hcm+1tsJwl3H, I can relate. I’m also a manager and have done that already for those who are no longer here. Im still around mainly because I still have a few talented long-time fte’s left who are exploring other options and getting things in order and won’t leave them out to dry with unknown management. They are aware that I’ll be retiring year-end.

“It is disheartening to discover that we are unable to utilize our managers as references. Any inquiries from external employers will be directed to HR for verification of basic employment details, such as tenure. Consequently, significant accomplishments, meaningful contributions, or even periods of inactivity during one's employment will not be conveyed to potential recruiters.”

I’m a manager and have no problem being a reference for teammates that I know. That’s a stupid policy that I have no problem breaking. I’ll do whatever I can to help affected teammates.

So much of DEI slush at the top and some wanting to go to next level to “inspire and motivate” people below them, all that could be cut. And of course there is also netflix and chill crowd at the bottom of the food chain that wants to be paid for doing nothing.

It is disheartening to discover that we are unable to utilize our managers as references. Any inquiries from external employers will be directed to HR for verification of basic employment details, such as tenure. Consequently, significant accomplishments, meaningful contributions, or even periods of inactivity during one's employment will not be conveyed to potential recruiters.

This policy was initially implemented by Suntrust and subsequently adopted by Truist.

“ Lol, is that what the street wants? Less revenue, less profit. Nobody knows the reality. Make the necessary investments. Thanks genius. Go back to your cubicles. Every post here is a numbnut whine or response. No one holding themselves and their careers accountable. Want handouts. Work from home and watch discovery tv.”

Are you drink or just r-tarded? Too much lead in your boomer brain?

I must be doing something wrong. When I work from home I work more, there’s no Discovery TV and definitely no handouts. 😂

“My solution is for them to make less money for a little while, cancel the share buyback, maybe suspend the dividend, and make the necessary investments they should have made to be a top tier bank with a BB&T level of customer service.“

Lol, is that what the street wants? Less revenue, less profit. Nobody knows the reality. Make the necessary investments. Thanks genius. Go back to your cubicles. Every post here is a numbnut whine or response. No one holding themselves and their careers accountable. Want handouts. Work from home and watch discovery tv.

Great news, we can now hit our AIP targets

Not entirely clear on the severance question. I had heard if you were offered the opportunity to rebadge to Accenture and declined then you would not get any severance. Don’t know how true that is though.

Can you take severance and deny going to Accenture?

Any managers part of the outsourcing? There's quite a few managers that manage zero people. And to have 6-7 levels of managers between the workers and the CEO seems excessive. Looking at most other DCIO's, there's only 4 levels of management. Seems like low hanging fruit there.

@1nph+1tsJwl3H Get down in the sewer with them. Don’t be shocked if one day you are cut. Then you will be crying “why? This is so unfair!”

We have already started onboarding Accenture resources into many teams. For the most part they are TERRIBLE. If our leadership thinks they going to get quality replacements from Accenture they have another thing coming.

@ DisgustedTeammate I wouldn't be too cozy. There's always been talk of moving EVERYTHING offshore. Dan said that was the goal in one of his meetings. The talk last week was about getting offshore access to "certain groups of servers that take the highest permission to access". You know what I'm talking about too. The ONLY reason I've heard for keeping the FTE's was because of this. Once gone, FTE's will be gone and there's serious talk about this.

When people say “expenses need to be managed” until I see the top execs take a pay cut then I call BS and what that really means is all us peasants need to suffer so the execs don’t get his in the wallet. If the top 15 highest paid execs all took a 1% pay cut, think about how many FTEs could be saved.

“Also, how come nobody provides solutions just addresses the problems. Clearly, expenses need to be reduced.”

My solution is for them to make less money for a little while, cancel the share buyback, maybe suspend the dividend, and make the necessary investments they should have made to be a top tier bank with a BB&T level of customer service. That might create some meaningful movement in the stock price long term, but not in time for Bill to cash out for his retirement. So employees have to eat sh-t constantly instead. F-ck you, Bill.

So before, people wanted a heads up about layoffs. They now do that and people complain. These are the times we are in. Have you seen the numbers of rif at the top 10 largest banks yoy? I won’t do your homework for you. Also, how come nobody provides solutions just addresses the problems. Clearly, expenses need to be reduced.

I would encourage everyone impacted yesterday to not even consider Accenture. Start looking for a job elsewhere and give nothing back to this POS company. All of you impacted have critical knowledge of your area. I wouldn’t ‘knowledge transfer’ a damn thing. I suspect the negative impacts that the original poster mentioned will start almost immediately.

I am soooooooooo glad I was laid off in January. 8 weeks severance (puny, but better than the Assventure “alternative”), and all my RSUs vested and will pay out over the next few years.

1. Quiet quit
2. Don't speak unless spoken to
3. Do not initiate help. If something is outside your realm just say you don't know
4. Call in sick during critical changes
5. If on a bridge, just respond everything looks fine. Extend all troubleshooting
6. Do not train replacements
7. Do not work on any type of improvement or enhancement project.
8. ...Add more folks, time for pay back...