In the last few months, the majority of major banks have had layoffs. I'm shocked that we've been spared so far, but now I'm worried that our time is about to come. I think people in mortgage should be prepared since that seems to be the main target all around.
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Reason for no layoffs is everyone who could has left. You run that VSRP again and I promise a lot more will leave.
@usz+1ihbCP4M you appear to be hSTI and have seen this movie before. You’ve been able to stay below radar and exist quietly among the Suntrust people who love to hear themselves talk and never have anything intelligent to say. Kudos to you!
To say you feel glad Truist employees have been “spared” from a particular round of layoffs may be one of the more curious things I have heard in my banking career.
The only thing slowing down SunTrust laying employees off is bureaucracy and paperwork - the will to do it never fades. Over the years if anything has become obvious, it is that laying off employees is more than a cyclical necessity to SunTrust - it is central to their core being. It is both a salve for managerial insecurity and an earnings call tactic to hide mediocre performance.
SunTrust’s insecurity comes from their long-suffering inability to be included with the “real” banks. Interestingly, after the merger, SunTrust has moved from “afterthought” to (if anything) being the tacky, purple bank with unhappy clients that are ripe for moving.
Layoff season is always October so they can get you out by year end
...Send not to know for whom the bell tolls. It tolls for thee.
Sincerely
Anonymous member of HR Team
“Daaats Right!” - Donta
Mortgage had layoff's in June, mostly newer employees, for sure there will be waves of layoff's, that's the SunTrust way.