During the second quarter earnings call on 07/16, Truist leadership committed to more aggressive cost cutting, to include aggressive layoffs. Will the executives turn the aggressive cost cutting on their own multi-million dollar total annual compensation? Shockingly, there was no comment on that.
I also have to say, it's hilarious to me that they are now saying they will take an aggressive look at company owned real estate to try and save money. This is a few months after closing one of the largest real estate deals in recent history for the downtown Charlotte building. They knew at that time they needed to cut costs, they had an opportunity to say we can be a flagship bank without the flashy feather in the cap (why do banks love downtown high-rises). Instead they execute the $500 million deal, and then a few months later say they need to take a look at how to tighten the real estate belt. Is anyone else lost?