Thread regarding Truist Bank layoffs

All I can say is that I am so glad to be out of that den of vipers. Life is too short to waste time working with people you don’t respect just for a paycheck. Good riddance Truist.

@q7 because that is what SunTrust has done.

@1jd nailed it.

Two reasons: Kelly King sold out the BB&T employees. Second, SunTrust made sure everyone assimilated into the ST Borg. Only way to get that done was to get rid of the BB&T employees.

Because they are smart

@br SunTrust bought BB&T with BB&T's own money.

The "MOE" closed SIX YEARS AGO! I've only ever heard BBT people complain about Truist. Of course, SunTrust people used to complain about BB&T's cult-like culture and small town banking focus.

Get over it...there are thousands of TFC employees with no loyalty to either heritage bank. Including most of Wholesale's leadership team.

HBBT here. Before I left Suntruist, I had worked for JPMC for over a decade and BBT for over a decade. I worked for Suntruist for many years also. My experience is limited to these institutions but what I can tell you is that all BBT were the ones in the company with great morals and ethics. BBT people cared about culture, they cared about their work, the communities and the clients. The culture of Suntrust was dog eat dog, do what you want. Dog eat dog worse than JPMC Wall Street, I know because I worked at both. The Suntrust folk had a look the other way culture about them and don’t say anything or else. Coach one thing write down the coaching and do the other that’s totally different. Back room meetings and cross department coordination to blockade or push out BBT people. Political chess with people’s careers. Suntrust folk seem to be pre programmed for favoritism and retaliation. Mostly everyone I worked with at BBT was a step higher than the quality of people at JPMC and that’s saying a lot about their character because the majority at JPMC were of high quality even in highly commissioned roles, the majority were very well morally. Suntrust folk, I feel like I’m working with the next Enron or Wells Fargo case. They are great at showing you one face and then messing with you behind the scenes. The Suntrust people are very proficient at making the BBT people feel unwelcome, unwanted and unsafe in their career here. You’ll be leaving on your own or from them. They want to move up in ranks and help themselves out or get fresh blood in who is able to be manipulated. BBT people aren’t easily manipulated and they often speak when something is wrong, so that’s why you’re a threat to their toxic leadership styles. The BBT people are always trying to coordinate exoduses that aren’t just one or two, but massive. This is another reason why you see many gone because they are excellent at seeing the writing on the wall and all talk amongst each other. If you’re still here and BBT you know what I’m saying, you likely get poached at by your colleagues often and they are trying to throw you a life raft. If they don’t reach out to you or communicate about their exodus to you, you may be one of the few BBT who didn’t fit into BBT or you’re a Suntruist minion.

@ps one was most certainly better than the other, just ask any heritage bank teammate hahaha

It is sad after all these years it is still a “us” and “them” mentality.

"Corruption and 'better' had nothing to do with it."

They had everything to do with it.

@cd Ridiculous statement. Neither was “better”….. better at what? One was good at three things, the other was good at a different three things. On paper the merger made sense. No one was “corrupt”. Ge-z. You know what has to happen before a merger like this is announced, much less executed? It would rival the greatest of all conspiracies for your statement to be true. It was two banks who needed what the other one had, but neither had experience at mergers. They both knew how to acquire; but mergers are different. It was mess, it was full of mistakes, and everyone lost. Employees, shareholders, communities. Corruption and “better” had nothing to do with it.

It’s hard to articulate how deeply it hurt to leave. I held on for over 5 years and watched a once great organization (BB&T) be overtaken by a horrific culture set on treating every market as if it was a big city, while stripping resources from rural areas in favor of Dallas, Orlando, Charlotte, etc., making our former bank unrecognizable.

Merit no longer matters. What you look like, who you know, and your political beliefs matters far more than being a good banker with great client service. Taking unnecessary public stances on social matters alienated 50% of the client base and employee base overnight.

I hated to move on, but it became unavoidable. I’m now at another bank and I’m taking Truist to the woodshed. It’s not even hard to take their business.

While the Rand/Atlas Shrugged stuff was over the top, I do miss JAs quirky leadership style. I can imagine him quietly telling the analysts to shove their quarterly earnings projections

Because they were smart and left that dump of a bank. Most went to smaller banks and have been moving millions in deposits and loans to their new bank with minimal effort.

This place blows!

I left a few years ago. While I was hBBT, my team and department was made up of some really good folks from both organizations.

The primary frustration I (and others) had was the clear sense that long-term success was not a priority. Going back to John Allison, you truly felt decisions were made with a longer-term perspective. That slowly changed under KK leading up to Disrupt to Thrive and the MOE. By the time I left, most meetings and decisions were wrapped around the impact for the next quarterly earnings call. Prioritize items that could either give an immediate financial benefit (I.e cost cutting) or a bullet point that can be characterized as “care”. That went into overdrive under Bill.

The irony is that it’s clear this method of operation does not work - just look at the TFC stock price since the MOE compared to any banking index.

It stinks because for years, I felt BB&T was a lifelong career.

BBT had too many hillbil--es. STI had overinflated egomaniacs. The hillbil--es all went to smaller banks where goals are nonexistent and so are expectations. STI folks are still here directing traffic with new strategies every 6 months trying to vilify their existence. How is the head of retail still here? Unreal. She is a real winner. Lol

Because Bill, that’s why. This “merger” was clearly orchestrated by Bill to eliminate his closest competition; and I have got to hand it to him, it worked and he got exactly what he wanted. He placated the hBBT executives as long as he needed to and then systemically picked them off, well except his token two, but that is a different discussion. Bravo Bill, you did it and you have been and will continue to get paid handsomely and one day cash in your chips for tens of millions and sail away into the sunset while those of us left behind have to deal with the wreckage.

I left because SunTruist's IT management wanted me to be an Indian Wrangler, and I wanted no part of that.

@dx you win the post of the day

Probably depends on which part of the bank you’re in, and which “side” your exec came from at the time of the merger.

At this point it’s been nearly 6 years and there’s a ton of new teammates from other banks, right out of school, etc. No telling what the stat is of “heritage” folks vs. net new teammates.

All that to say, the stock price would indicate that most of the good folks are gone, regardless of which “side” they came from! And after 6 years, people need to get over playing sides.

Culture evolution. I literally worked at all three: BBT, then STI, then TFC. The differences were wicked clear and went almost all the way to the top. Suntrust felt she was the prettier, more popular sister while was BBT sitting home doing its nice cute regional bank thing, with a curious color palette and less polished appearance. But as long as you worshipped KK and went through leadership development program you could defy gravity and be employed for life. BBT folks felt STI people were overpaid superficial Gordon Gekko wannabe’s, living in an Atlanta bubble chasing glitter and gold. They had no loyalty or sense of “purpose”. Look at the corporate visions: BBT: make the world a better place. STI: we’re better than wherever you’re banking now.
It was never a MOE and Sun Tsu was right. The battles were won long before they were ever fought, and that’s why I left 5 years ago. Whether it was a brain, a heart, some courage, or all three or neither, I was conflicted every day. Not saying those who stay don’t have those things, and the purple Oz offers great things to the loyalists for whom it’s a good fit. But the wizard had his way with thousands and made it clear whether they were going to be “one of them”. I’m very glad I hopped on my broom and got outta there.

If you live in NC and Charlotte or Wilson....you know you are Sheeple....

SunTrust was the better company...got bought out somehow by corrupt BBT

Someone is confused....They got rid of/replaced all the awesome SunTrust people...If your job was in contention BBT vs SunTrust...guess who got? BBT...do not kid yourself on that.

When a merger occurs, there's always an acquirer and acquiree. It's never 50-50.

OP Just looking to start a fight or some spam bot.

Come on with these stupid questions

@OP Ragebait

We were systematically purged by the SunTrust leadership. Those who made it through the multiple cuts were marginalized to the point that they left on their own accord. And most of the hBBT people that remaining are still at Truist because they have no other options. I was fortunate enough to get out on my own terms and to a much better bank. But I still have peeps at Truist who are just stuck with no better options, mostly due to their location.

We were pushed out!

Called "SunTruist" for a reason

If you ask this question you obviously never worked for this bank since 2019!