Just a heads up for everyone layoffs are happening today. I definitely didn’t expect it today.
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More coming next month. Nothing will change until the CEO & Case get fired. They are also bringing in McKinsey to another re-org start looking NOW!
EDA here, or rather was in EDA until got laid off yesterday. While I do see why some were laid off, there doesn’t seem to be a clear rhyme and reason. It seems MANY of the people who were NOT laid off only managed to survive a little while longer because of what they SAID they have done or can do from a technical perspective; that does not mean they actually can do it. In my opinion the layoffs did not do much to make EDA stronger or more competitive for Truist. The layoffs just served as a forced mechanism to help reduce some of the $700+Million that Truist wants to cut, but at a horrible return. Many good people were laid off.
A question for people who are commenting about this wave in ET/EDA being poorly planned, uninformed, hasty, etc.- Are you actually in ET/EDA, and did you ever work with the people who were laid off? Or are you just sounding off from some unrelated part of the bank?
These cuts are shot g-n uniformed decisions. New leaders are listening to the loudest not the best.
@1rms+1r3Yrsxz Preach. The person commenting in @tsz+1r3Yrsxz likely has no clue about who was actually laid off in EDA. While I noticed some people were let go who shouldn't have been, and some were retained who shouldn't have been, the cuts I saw seemed well-informed in general. Maybe it varies by team, but few of those who I saw were let go were capable of helping us to be "competitive" or "respected", and some were active hindrances to it.
@tsz+1r3Yrsxz Sadly that is the layoff criteria nearly every company follows. It all comes down to how much you cost the company and who you know.
LOL would love to know what area in EDA you are talking about
The people that EDA cut were useless, the types that pretend to be busy and rarely deliver anything, and once they do it looks like it was done by a 10 year old.
Fingers still crossed. "Accountability" is one metric they missed. Well, actually they missed quite a few metrics. Time to saddle up their horse and ride out of town.
Funny how the sour cream always floats to the top.
Bro,
I’m hoping my bros are still safe and can hit the gym with me later. We put a lotta product in our hair, bro
No direction and cutting people without a game plan. Cutting people just to shed costs, but losing good people who would have helped to make the bank competitive with its peers and actually be a respected bank. Too bad that respect in the industry and in the communities exists is going downhill fast.
Heard the samething from EDA
That "Fingers crossed" person who'd always comment in EDA/EDO layoff threads is probably popping champagne at the results of this wave
@kth+1r3Yrsxz Enterprise Data and Analytics (formerly the Enterprise Data Office), a part of the Enterprise Technology organization under Scott Case
Praying for all affected!
What is EDA and EDO? I work in Enterprise teller? Never heard of these areas . Can u be more specific?
Also heard there would be EDA layoffs today.
Several from EDA so far. I don’t know if it’s more than EDA
Any word on which orgs have been affected? I'm hearing about some unusual meetings being scheduled in EDA (formerly EDO), but no news of anyone getting the axe yet.