Thread regarding Truist Bank layoffs

From the 10K filing

Makes me laugh!
Human Capital

Truist believes it is crucial to attract and retain top talent who can further Truist's purpose, mission and values. To facilitate talent attraction and retention, Truist aims to provide teammates a diverse, inclusive and safe workplace that affords them opportunities to grow and develop in their careers.

Truist's Compensation and Human Capital Committee provides input on talent management strategy for Truist and oversees the design and administration of material incentive compensation arrangements, as well as other human capital matters, including teammate diversity and inclusion, teammate engagement, and well-being initiatives.

by Anonymous
| 25561 views | | 8 replies (last February 25, 2021) | Reply
Post ID: @OP+19z5oChx
Comment! It's anonymous!

8 replies (most recent on top)

Don’t be delusional people. Of course they can end the pension at any time. Only the people at the top and legal know the time frame but 2022 is logical. It would be dumb to think the pension is not part of the cost reduction program. For you folks at the 15 year or more stage of your career be thankful you will have this additional income. The rest of you will be bought out and written off as a merger expense.

by Anonymous
| | Reply
Post ID: @1uzq+19z5oChx

Well, they can though. If you're vested, they will owe you something. some companies do buy outs some companies will pay you the current value of your pension when you retire. they can definitely stop the program and stop future contributions.

If you're really bored or really interested, typically the " what happens if" scenarios are planned and documented by law... Some bedtime reading

by Kelly Rogers
| | Reply
Post ID: @1fbj+19z5oChx

I have been at this bank for 24 years. They are not going to take away my pension.

by Anonymous
| | Reply
Post ID: @1pmt+19z5oChx

I was at another company where they pulled the plug on the pension and there you had to actually contribute 3% toward it. We all got our contributions back in a lump sum.

A bit different here since the pension is 100% funded by the bank, but they can absolutely cancel it even for those vested.

by Anonymous
| | Reply
Post ID: @1szs+19z5oChx

They can an absolutely will end it for those vested as well. And, because it's 2021, any "press" related will have to acknowledge the fact that we kept a pension so far past many others in this industry. Sign o the times. Pensions died a long time ago.

by Kelly Rogers
| | Reply
Post ID: @1uhc+19z5oChx

They are not going to pull the plug on pension for those vested. That would be bad press. I can see them putting a stop to pension for any new employees,

by Anonymous
| | Reply
Post ID: @1lbd+19z5oChx

Me thinks Kelly will pull the plug on the pension on his way out the door so new King Rogers isn’t the heavy. Oh and your SunTruist associates hate you for having this pension by the way. Think about the number snide comments you have heard regarding the pension if you’re HBBT.

by Anonymous
| | Reply
Post ID: @wln+19z5oChx

You are an expense in their eyes. Plain and simple. Something to be cut. Don’t believe me? Watch what happens to the pension once King rides off into retirement. It will disappear faster than the “Leadership Institute and Spa”.
This place is terrible!

by Al X Brain
| | Reply
Post ID: @nev+19z5oChx

Post a reply

: