For Truist to layoff thousands of employees, they don't hesitate to pay big for new blood from old stock.
https://www.bizjournals.com/charlotte/news/2020/11/18/truist-financial-forms-enterprise-payments-group.html
4 replies (most recent on top)
Further proof the joke is on us. We were all told by Kelly “disrupt or die”; it is IMPERATIVE we retool our bank and move into the modern era of Fintech, or our company is DEAD. The message was dire. So, those of us in the field take the bullets, trudging forward and doing our best in a toxic environment of random lay-offs and ugly politics, now punctuated by our highest performers beginning to leave us in what is becoming a train wreck.
Yet, how are our executives who sounded the dire alarm acting? Well, first they decided it was absolutely imperative to use some of the “precious tech capital” to pay themselves millions in merger bonuses - obviously they needed to retain THEMSELVES on a deal THEY agreed on. Okay. But hey, at least they did respond to the emergency need for Fintech expertise by poaching two leading, brilliant Fintech minds from Silicon Valley to add to the executive team. Um, no, not exactly. These are the bios of the highly compensated good ‘ol boy revolving carousel of bankers so beloved in the 1990s. The longer this merger drags on, the more mind-boggling (and alarming) the decisions are becoming...
The days of significant roles being filled from within the organization are over. Good luck to those left behind.
They also hired Vinoo Vijay as Chief Marketing officer, from H&R Block and once TD bank. Another has been making the rounds from job to job. There were great marketing people within Legacy BB&T and STI. If the guy was successful he wouldn't be leaving H&R Block, let's pay him the big money anyway.
For those still in denial, welcome to the STI way. Enjoy your new rating method and how the good ole boy network denigrates you and your worth. Enjoy!