Does anyone know how many people were offered the Voluntary/Retirement package? What % did Executive Management expect to accept the offer? What % actually said they want to take the package? I heard someone say they expected 8% to accept but the number who did is actually way higher than 8...Anyone know?
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Many retired on 05/31/2021 and were not notified of the posting of the upcoming package offer on email as of 6/03/2021, many management folks are now retiring... sounds like insider knowledge to me... does anyone know of backlash or actions being taken since this is down right wrong
People have 45 days from Aug 2 to sign their VSRP. I expect numbers to start going up…! This is a sad, sad day for us BB&T employees who have been here for years. It will never be the same. I think Truist wants a younger group running the place, but are forgetting the ones that actually have a work ethic and knowledge to perform their job functions! 👎
VSRP announcements are starting to roll-in, announcing who has accepted it.
@cdyz+1bX70qjy hahaha no. Mortgage servicing under Mr. Zorro is being held to that date.
ID: @cnng+1bX70qjy You must be an important member of the integration team to have to stay that long. What area are you in?
Y'all with early dates be grateful. I am June 30, 2022 without any extra compensation. Like and extra 3 weeks would ki-l them!
I date is Sept 30th. I am beyond excited. I was told that my position would not be filled
Dates for people leaving is all over the calendar. September 30, December 31, February 28, March 31. Varies by area and role in integration. If you have been told as a manager you’ll be able to replace someone just laugh. A small percentage of people in sales will be replaced. Rest of you need to saddle up. You’re about to be ridden!
I got approved for the package but they are not letting the people in our department go until February 28, 2022
Employees that were approved are finding out now. I have heard that none of these employees will be replaced. That being said, the workload is again going to increase and be distributed within each department. This will be the straw that broke the camel's back.
Everything you need to know is the silence from HST people on this forum. No comments at all from them about this merger and their thoughts. It’s as if they feel they are immune from the end result. Delusional is the best word that comes to mind regarding these “teammates”. You reap what you sow, it’s coming, be ready!
Once we lose our highest performers, their managers are going to have a rude awakening. They'll have no one to go to for all the answers to the test, their lack of knowledge will finally be revealed.
How stupid, getting rid of all this talent.
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It is not the number of people taking the package that I find surprising - everyone knows this place is horrible. What I find unbelievable is the apathy managers are showing over losing their highest performers! Some of these people are going to be impossible to replace, and management simply does not care. It is like “yes, we got some more expense savings!” with absolutely no thought about who is going to be actually taking care of clients when the dust settles. Wow!!
Below was posted July 2019 on Suntrust layoff board in response to the question,”How do you feel about the merger?” This individual knew 2 years ago how this was going to turn out!
Bank mergers are very difficult. The politics and backstabbing by Suntrust management will make this merger very difficult to manage at best. The arrogance and ignorance of Suntrust IT management is particularly worrisome. The businesses will find a way, one way or the other to survive but integrating the technologies between the two companies into a single platform will take a long time which will impact the ability of the bank to introduce new and innovative services. New technology leadership will be needed but beware if Suntrust IT management is put in charge.
The thing i am looking forward to the most in ER is not being future signaled at 24/7.
Either take the cash and start another job, or pull forward your retirement. If you’ve saved properly over your career, it’s a great opportunity. Talent is at a premium. This bank will be distracted by cost savings for quite some time.
I wonder if something has dawned on all the managers delivering/processing these packages. We are understaffed now due to layoffs/resignations. So, who is going to handle the relationships for this group that is leaving?? I would not want to be a manager (aka scapegoat for executive management) when the client impacts of this move bear fruit.
2000 is the approximate number. I’m curious if any HST folks are taking advantage of this deal. Seems all the comments on this site are majority HBBT. I would love to hear from ST folks about this topic and the merger in general. I suppose they (HST) could be fearful of being tracked down if they opine, ST seemed to have a culture that would be capable of doing that.
On the arming call Kelly said approximately 2000 and taking a 116 million charge if that’s helpful
Yes, your correct they haven't a care in the world about loosing top folks, they are all about the cost savings right now. What the end goal is once Bill takes over is getting what's left of the so called bank sold off so he can get his golden parachute like Kelly. #SMDH
It is not the number of people taking the package that I find surprising - everyone knows this place is horrible. What I find unbelievable is the apathy managers are showing over losing their highest performers! Some of these people are going to be impossible to replace, and management simply does not care. It is like “yes, we got some more expense savings!” with absolutely no thought about who is going to be actually taking care of clients when the dust settles. Wow!!
If 5000 is correct and branch closures coming for another few thousand those left will be covered in work. There are also other consolidations in the works. Stay tuned “teammates” the fun really begins October 1.
5000 in total took the plan.
Personally I have heard very few who were eligible that didn’t want to do it. What is scary is the number of superstars in my group who are taking it. Kelly will strut around in front of analysts bragging about the “expense reduction”, but this scheme is cutting a lot of muscle out of a teetering organization with increasing client dissatisfaction. Hang on tight, things are getting ready to get ugly.
I wonder if everyone will get it. Or at least everyone 60 and over
I was told 2500 took it
They expected and had as their goal 20%; however, the actual percentage who accepted was 45%.