Thread regarding Truist Bank layoffs

And instead of working on it, all you hear now is the CONSTANT push to use Co-Pilot. Listening to a call right now with someone else pushing it.

@dt Great way to say it!!!

100% agree — how I felt before I left

Bill wanted to be a mini-JPM. Investment banking was the driver, not retail. He ran Truist like he ran SunTrust - that's why he is out. That's why Insurance had to be sold - a short-term band-aid with a long-term negative impact. That's why customer deposit losses didn't really seem to phase him - fee income from securities was what he talked up.

Lyons' seems poised to change the focus: relationship banking. Less silos. Everything is integrated and related. Want outdoor equipment? Sheffield. Want replacement windows or a new furnace/AC? Service Finance. Other home improvement for high FICO? Lightstream. Be the bank of choice for everything a bank customer wants, including securities.

I think the banking customer will be the new focus. Will it work? Time will tell, but it is a better strategy than anything Bill had IMO. And analysts expect Lyons to deliver on what Truist was supposed to be - NOT a mini-JPM.

Whether or not Lyons is successful may determine a future merger with PNC - see where things are in 2 years.

EXACTLY! I’m a client facing employee and I agree with everything you said!

@OP - Well said. And let’s not pretend the toxicity is limited to senior leadership. There’s plenty of it in middle and lower management too.

A lot of us have been here for years, consistently doing more, taking on extra responsibilities, and waiting for that mythical “opportunity” to move up. Meanwhile, management seems to have its preferred candidates already picked out.

Case in point: someone on my team just got promoted after being here for less than a year. My manager has known for years that I’m interested in the role. We’ve discussed it repeatedly during performance reviews, I took the feedback seriously and actually worked on the things I was told to work on, and I even have prior experience at another company that directly aligns with the position.

And yet... surprise promotion for someone else.

I guess that’s one way to make it crystal clear where you stand without actually having to say it.

So I’ve decided to take the hint. From this point forward, I’ll be doing exactly what my job description and paycheck require. No more taking on extra work, no more attending meetings or taking on responsibilities that are not an expectation for my role, in the hope that someone might eventually notice.

Apparently “going above and beyond” only works when management remembers to look up.

@dg if the parents are abusive, the kids have every right to gripe

Just as an annoying counterpoint: let’s accept for a minute that some of the posts on this site over the last few years have gotten to EL. Yes, the bank lost its way and leadership failed both strategically and tactically. But all the quiet quitting, planned staged walkouts, bare minimum work, “please lay me off for my severance”, ignoring corporate directives, name calling and personal insults, and a general malaise about working at the company. I’m by no means defending the boneheaded decisions to reduce employee benefits or sell off assets, but if my “kids” were constantly griping I’m not sure I’d respond with hugs and kisses to reward it.

Reshuffling underperforming management ruined the company.

Senior leadership has become disconnected from operational dysfunctional realities, struggles, terrible and ineffective process and procedures, unrealistic expectations, no accountability in many areas leaving teammates exhausted, undervalued, stretched beyond capacity, dissatisfied, disappointed, frustrated, hopeless and disgruntled We need an immediate realignment at the executive level—leaders who actively engage with the challenges on the ground and show genuine care for the people carrying the workload every day! Mike, make it happen!

If you don’t care about your employees, they won’t care about the business.

As a 28 year employee, it’s has never been this bad! Executive and senior leadership had failed us! Rebuilding trust will require greater transparency, support, honesty, accountability along with realignment and reorg from the executive and senior leadership level!

I think it can easily be summarized as if you don’t respect employees, they won’t respect the company.

Bill Rogers and his initial team made it blatantly clear “regular” employees were lesser humans and disposable - regardless of their value to the company. Hence, the majority of the best employees left and now Truist is a backwater bank.

what is with all of these long ah ai slop posts that dont have anything to do with layoffs. do you all know what site this is?

Correct. The shadow of a possible impending termination leaves me utterly demoralized to the point I have given up putting in 100%. Why commit when you see dedicated people in your team just getting dropped. I have worked in banking and finance for various institutions for 25 years and I have a never felt such a burden of consistent concern arising from the threat of a lay off.

@OP Astute and accurate assessment. I too have 30 years in, spread out over several firms. Most, not all, but most of the EL/EM shouldn't be in their positions. In functional and dynamic orgs, they wouldn't be.

I believe in giving people chances to achieve/fail. When people fail, or the failure is the selection, it needs to be addressed. Here, innocent people will be blamed over and over while the problem remains ( a person). Nothing matters or changes.

Completely agree. No notes. You totally hit the nail on the head.