Thread regarding Truist Bank layoffs

No, Trump screwed that up, it will never be the same country as it was before him.

Lol "I'm old enough to remember how it used to was"... These are the same people who want to "Make America great again"... Let's ignore how the world has changed, how consumers have changed, how time has passed and just Make banking great again!!!

Yes, I did, prove your point beautifully and I agree with you. That is why they are, as you said, "freaking out l like they just saw the devil". They will be out of a jobs replaced digitally. I believe you need to make changes to follow the times but not sure this is the way for banking. It's easy to say no to a client on the phone, That human touch will be gone forever, I'm glad that I'm old enough to remember better times when we collaborated as humans working to make the world a better place.

WSJ: People Aren’t Visiting Branches:
https://www.wsj.com/articles/people-arent-visiting-branches-banks-are-wondering-how-many-they-actually-need-11591531200

@iqtr+153GsNKq - you proved my point beautifully.

Not a fair comparison, if you think sitting around sipping Peets coffee in a capital one cafe is banking, shall be it , but I have better things to do with my time. Virtual Cafes and Banks are fine, be prepared to be unemployed and replaced by a robot.

@gjvt+153GsNKq - this isn’t about ‘age’, it is about mindset. This is a company crawling begrudgingly into the current century while enamored with what ‘used to be’. The management team talks a good ‘digital transformation’ game but I don’t see it on the ground. It’s why whenever a Capital One commercial is on TV, people around here start freaking out like they just saw the devil.

The challenge goes deeper. It involves basic cultural orientations—to time, kinship, social organization, the transcendent, and value premises about what it is good to do and good to be. Seeing our circumstances clearly requires us to ask why we regard as you say “old minds doing old things “.The truth, however, is not quite so simple. Some functions peak early in life, others don't get up to speed until adolescence or early adulthood. There are mental capabilities, like judgment and wisdom that continue to improve as you grow older. We're constantly evaluating different approaches, discarding the less efficient. This is why experience is the best teacher and why practice makes perfect. Don’t through the baby out with the bath water!

@fhxo+153GsNKq - Branch banking as we know it is a dinosaur and has been on its way out for close to a decade. It's done. You're right. The virus is accelerating this transformation.

The fact that employees (heritage BB&T specifically) still speak of it as the 'life blood' of the bank is a glaring example of what is wrong with the company. It is old minds doing old things, scared of what the future may bring instead of embracing it.

The Coronavirus is going to help them with eliminating personal, actually it will help with all banks. They can actually operate using their drive through s which will reduce the amount of staff needed. The only way you will be able to enter the branch is with an appointment, and that will be honored for their wealth and commercial lending clients. All other banking will be through their apps, no need to have many tellers or relationship bankers.

It's just like when you use self check out at a store, eventually you'll have no cashiers, just one or two people watching that you don't take the items without paying for them. That's why they are looking to be on one digital platform. It's a real shame where the economy and country is going, it's sad to see this institutions follow with all digital no human platforms.

A lot of companies have used the Coronavirus as an excuse to lay-off personnel but they were quick in accepting government help for their profits. These companies need to be monitored because the monies was to keep their employees working not for them to use for their profits. No one knows the impact all of this has had on families that were already struggling to survive.

If you look at how many views this site gets, you can see everyone is unhappy. It's just a matter of time. You can't do anything, the economy s—s and no American leadership. Get rid of the JA in the WH and things may get better.

There's really no way out for them, many people were promoted because they were good at what they did, but when promoted with direct reports, the whole department crashed. These people care about one person, themselves. They have no idea how to mentor the next generation, everyone has the potential to be great at what they do but they need people to believe in them. Everyone is too chicken to disagree. That;s why many of the good employees who worked hours on end are gone. It's really a travesty. Look at the big payouts executive management got, and they did nothing but let their departments collapse. If it was me, I wouldn't be able to sleep at night knowing what I was part of.

@8unr+153GsNKq - This is a symptom of a sh1t management team and a pervasive problem in both organizations. The people in many of these management roles are there not because they are good, but because they have been there forever. Lots of dead wood. The Peter Principle in the most pure form.

Below times 100. Suntrust TEAM MATES want to silo everything and spend all their time and efforts figuring out why this or that is somewhat else job to do and not theirs. Hours wasted on calls when anyone with any ability could fix the issue and move on. Never seen anything quite like it. Too damn many people with the smartest kid in the room syndrome. No one seems to remember the "better to remain silent and be thought a fool than to open ones mouth and remove all doubt!"
#SMDH
Someone mentioned this being executed on well, I can tell you behind the scenes in corporate it is a mess. I have worked for BB&T for many years and through some large acquisitions that seemed to go smoothly. This has been a nightmare. Communication has been absolutely terrible and you can feel the stress and frustration oozing from people's voices on conference calls. Unfortunately we've adopted the SunTrust culture, and it's especially painful for those of us who are former BB&T employees. But the SunTrust employees are frustrated as well because they don't understand why we won't get with the program and just fill out their thousands of bureaucratic forms and fall into our narrowly defined roles with limited autonomy or decision making.

I left SunTrust years ago because the culture was deplorable. I got hired at BB&T and was in my role for 20 years and left right before the merger as my saneness and family was more important. If you can get out, do it, you feel much better and your family will thank you ! All the best!

Someone mentioned this being executed on well, I can tell you behind the scenes in corporate it is a mess. I have worked for BB&T for many years and through some large acquisitions that seemed to go smoothly. This has been a nightmare. Communication has been absolutely terrible and you can feel the stress and frustration oozing from people's voices on conference calls. Unfortunately we've adopted the SunTrust culture, and it's especially painful for those of us who are former BB&T employees. But the SunTrust employees are frustrated as well because they don't understand why we won't get with the program and just fill out their thousands of bureaucratic forms and fall into our narrowly defined roles with limited autonomy or decision making.

There have been no closures yet but starting last quarter 2020, the closures will begin. They already have negotiated sales of some branch purchases pending FDIC approval.

Going to be a rocky period for all of banking ahead. Lots of smaller regional banks are going to disappear.

This merger might have been a life-saver if it can be executed on. Time will tell.

There have to be a ton of branch closures, I bet that where there's a SunTrust within a few miles of a BB&T they'll close the lower performing one and lay everyone there off or relocate them to a new branch

I wonder if the branch shut-down plan is out yet?