Please stop advocating for permanent work from home. You are shooting yourself and the rest of us in the foot. If it turns out that jobs can be done from home permanently with no need for an office, do you really think Truist is still going to pay you to do it? No, you'll be laid off and the job will be outsourced to a country where they'll be able to hire three people for the price of one. Please people, be careful what you wish for.
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@1tad - This made me chuckle. Your butt-hurt response speaks 100% to my point why and along with your somewhat salient observations, the bank is in trouble. Thanks for proving my point and reinforcing why leaving this pain train was the right move.
You've lost the forest through the trees, my friend. Good luck finding your cheese.
@1pwm - Not to be snarky, but did you actually read the earlier posts before responding? If you did you either have a problem with reading comprehension, or you came here with a pre-set agenda (my guess).
Not one person is arguing that BB&T and SunTrust both need to move into the 21st-century to be competitive. Everyone understands that this transition will be painful, and will require substantial layoffs of good people - but is necessary.
The point the prior individuals were making (and would be obvious if you were still here), is we are going through all of this pain, and still selecting LEGACY technology. The capital raised from expense reductions (that should be going into our technological transformation) has instead been allocated to 1990’s banking “trophy” projects like real estate, re-branding, retention bonuses, etc. We are further behind the technology curve NOW than when we were pre-merger, because we are now a larger bank, but choosing to use the same outdated technology...while our competitors continually innovate...
Permanent WFH will mean Outsourced for many roles. That is true but I wouldn't blame COVID 100% as the cause. Every business in every industry has been moving to this model for well over 20 years. hBB&T has just been stuck in the last century and in denial about it, all along.
Went to BB&T from Fortune 100 Big Tech. Spent a few years there and left recently. It was immediately apparent that the desire to be the 'small town bank' was an anchor that kept it in the dark ages and a direction change would be very difficult. All I kept hearing was "...but, but we're a bank. Lots of Federal oversight we can't do those fast-moving, techy things" or "...but it's all about the branch." Lots of old mindsets and resistance to change.
Now I see lots of postings by Truist employees complaining about the new bank. Ironically many of the things that are being highlighted are necessary parts of a much needed change that many companies and businesses have been moving, for a LONG time. These things are nothing new.
Welcome to the future. Stop being afraid of who may be 'moving your cheese' and start learning to evolve.
These last two comments are so spot on. These are two individuals who are in the know.
Don’t know what position @vbd is in but I’m betting it’s up the chain. Best analysis I’ve seen of present and future. Gang of 14 with King Kelly have screwed this pooch from day one. BOD has enabled this mess to line their pockets obviously. Buying the Hearst Tower, building new hangers at the airport for the fleet before the ink was dry on the alleged MOE. The technology comments are spot on and brand recognition is still BBT and STI to customers. Reminds me of the small restaurant that has a great business and decides they want to be bigger and soon is out of business. #SMDH
It doesn’t matter. This is Truist, your job is not safe wherever you work, period. Expensive mistakes were made in this merger, and a new endgame is taking shape before our eyes.
Why do you think your group(s) are not seeing the “big technology investments” that were deemed “so crucial” (and supposed to be funded by the job cuts)? Why has our overall strategic and competitive vision become more vague, rather than clearer? Why is there little distinction between top performers and mediocre performers in the RIF process? And lastly, when our executives do their strategic presentations/updates, why is there zero energy? I ask you to think objectively - does all of this give the appearance of an Executive team that is digging in to make “Truist” successful for the long haul??
We bit off way too much without similar cultures and a shared vision to coalesce around. Then, we squandered massive amounts of precious capital on an unnecessary (and unpopular) brand, real estate and other non-strategic items. Yet, for all of that money, the general public remains as clueless about Truist as the day it was launched.
In addition, we have blown 2 crucial years and have fallen even FARTHER behind BofA, Wells, US Bank,etc. from a technology perspective. On top of this, our brain drain is staggering. There is an old saying in management; everyone loses employees, what matters is WHO you are losing. We are losing top performers.
So, the new endgame means continued pain for the “little people” thru big expense (job) cuts, but now only in an effort to greedily prop up the stock price. Then, at some point in the not distant future, Bill and Co. put it up for sale, and garner another big payday.
2 things; 1. exceeds expectations is not a rating this year. 2. Reviews have not been finalized. Troll
I was told by my manager that I will not be receiving a raise, although I exceeded expectations. The reason was because I work from home and the money I save on gasoline commuting is substantial. Also work from home positions may be re-evaluated and salary lowered for these positions. As the other post said, Don't let them fool you.
Don't let them fool you, managers hate the WFH situation. Once COVID-19 is controlled, more jobs will be outsourced. Since COVID-19 is a global epidemic and makes it hard to outsource at this time. The original post is on target that this will pit your job in jeopardy. Truist is not one of those companies that will compensate you well for working from home, don't kid yourself that they are.
I don’t agree with this. There are many reasons why working at Truist is painful right now but WFH should have nothing to do with whether a job function is replaced with offshore. Some roles will require people being back in the office but others can probably continue to do just fine remotely. There are many successful companies that have totally remote work forces where employees are compensated well.
I’d say if anything having people WFH would allow Truist to save on real estate costs which MAY allow for less RIFs but don’t quote me on that.