System experts are leaving. There are core applications such as deposits that will lose the most knowledgeable people with years and years of knowledge specific to these applications. Many are mainframe applications. It will be next to impossible to replace these folks. A severe price will be paid when these systems break in the middle of the night, and no one is left with the skills to fix them.
I can’t believe executive management is letting this happen.
12 replies (most recent on top)
"replaceable" - You can replace a a Rolex with a Timex, but it won't work nearly as well.
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Sure. But sometimes a TIMEX (at 1/50 the cost) is adequate. There lies your problem.
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It won't be adequate when systems fail and nobody is left to fix them.
"replaceable" - You can replace a a Rolex with a Timex, but it won't work nearly as well.
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Sure. But sometimes a TIMEX (at 1/50 the cost) is adequate. There lies your problem.
There continues to be some disparate treatment in the bank around the term “client-facing” and “non-client facing”, as there continues to be more and more client-facing-”revenue-generating teammates or NBR” teammates (Wealth Managemt, Truist officers, Capital Markets, Market Presidents) receiving VSPR. It is around 30-40% of those receiving the VSPR are truly client-facing. A NY or DC law firm should be reading this post, as there is more behind the Truist purple curtain.
It was a gift that i gladly accepted.
@1jyp+1cwP3lwc your analysis of the early out program is the best we’ve heard. Spot on I might add. Some of you eligible hBBT “teammates” who declined will regret that after the pension is shut down and the severance is greatly reduced in 22 not taking it. King Kelly has turned out to be the village id--t and was played like a jukebox by Rogers and company. A despicable human being. Why? It couldn’t have been for the money so why? None of this has made any sense.
The VSRP was a tactic that could be seen coming from a mile away. Let’s step back now and objectively tally the results. Yes, a few HSTI employees took it (primarily low performers), but its overwhelming goal was spectacularly achieved as it shed Truist of the bulk of the remaining HBBT talent. You see, the best way to keep up a façade of superiority is to eliminate talented coworkers who would challenge your ideas (SunTrust 101). Truist is now literally pre-merger SunTrust, with a few HBBT’ers clinging on by promising to shut up and follow all orders without question. The problem for the HBBT hold-outs is SunTruist is without a doubt already identifying their scapegoats, and it’s not too hard to see who they will be.
"replaceable" - You can replace a a Rolex with a Timex, but it won't work nearly as well.
@1ets+1cwP3lwc is correct in his assessment. Key people in the integration have been let go outside the early retirement fiasco. No care, no thought. I pity those of you left behind to try and pick up the pieces and make this a success. SunTruist will reign for a few years as a house of cards before being revealed as a complete fiasco. Arrogance always gets these organizations in the end.
We’re all replaceable. I’ve seen people retire with 40 years service and in a week their name is never mentioned again and their position never filled. Don’t forget you are a number to this bank. The bank doesn’t care about you and if they can save a buck by eliminating you, they will. Don’t fall for their stupid propaganda that they care about you. They care about the bottom line and the executive team.
Try finding a replacement that has 30 years mainframe experience specifically working on a CA deposit system. Good luck!
Just my two cents worth: No one has irreplaceable skills in IT nowadays. I used to work in IT, and I've seen plenty of people over the years who thought they were irreplaceable get replaced, quickly and with minimal disruption. Now, if you choose not to hire replacements, THAT would be a problem!
They labeled it VSRP. I did not consider it to be voluntary. Myself and everyone that I know who is eligible, felt that if we didn't take it, we would be laid off at a later date, with no payout. We don't feel safe and have zero trust for the leaders here. People are being treated horribly. And yes, may long time technology folks with irreplaceable skills are leaving. Executive leaders need to be worried.