In a previous thread, it was mentioned that layoffs will be happening the last week of each month with the next group being the 21st of September. Is anyone else aware of this information? If so, when and where was it discussed/mentioned? What groups are involved?
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Regarding who is getting laid off, my guess is only the executives who are benefiting from this are truly “safe”. Kelly King adamantly promised that high performing client facing employees would be safe. How has that worked out? I am looking, and I would suggest everyone do the same - this process is tough enough when you are being treated with honesty and respect - and in my opinion we are not.
Any departments in Wilson getting layed off?
One of the reasons mergers of equals are rarely successful, is that the leadership roles are often not awarded based on merit or previous performance, but rather horse trading at merger time. Compared to other mergers I have been through, it just seems to me that an inordinate number of highly successful and valuable associates are being let go in this one - the unpredictability is psychological torture for those still remaining, and not a recipe for the long term success of Truist in my opinion...
Kelly King detailed five ways the bank is shaving expenses: third-party vendors, retail banking, non-branch real estate, technology and personnel. King shared these at the virtual Barclays Global Financial Services Conference on Tuesday afternoon. Here is the link, as you can see, Sadly, layoffs are inevitable.
https://www.bizjournals.com/charlotte/news/2020/09/16/kelly-king-ceo-truist-cost-cuts-in-merger.html