h t t p s : / / wmbdradio dot com /2026 /09/15/ truist-financial-to-sell-5-5-billion-of-auto-loans-amid-overhaul
"Struck a deal to sell $5.5 billion of auto loans.. exit less profitable, non-core businesses"
Where will it invest more? How does these impact employees? We saw few waves layoffs in July and Aug. Will be a surprise if that's the last this year. But the question is ...where?
Reorg may be? As that has been the favourite "strategy" for past 4 years.
@OP it'll be invested in stock buybacks and adding former PNC employees to the operating council. Just like the sale of insurance was
@ch you mean copilot
@c2 thanks chatgpt!
Sadly many people are going to lose their jobs.
Here’s what we know.
Selling $5.5B of a low-return/non-core business; getting $5.2B cash; improving capital by ~$945M; reducing credit risk; paying down funding; potentially improving earnings efficiency.
And the filing says the broader strategic review is still ongoing, so this may not be the last business Truist decides to exit or restructure.