Thread regarding Truist Bank layoffs

This is definitely not me!

To the a--hat that thinks BB&T are losers on this thread… let’s not forget SunTrust got bought by BB&T because their glorious leadership couldn’t run that bank right. Now they have ran (Sun)Truist into the ground only to probably be bought by US Bank or another suitor. Let’s hope the purchasing bank is smarter than BB&T execs though and don’t take this “merger of equals” bullsh-t approach and they just go ahead and get rid of Bill and his thugs before they infect them too. What’s more funny is how many of the HSTI teammates are so use to this fu-kery already they don’t know any difference. I guess once you work for great leadership it’s hard to go back to anything other than and this bank will never be half the bank BB&T was, even the clients feel THAT!

I almost think Bill himself put that comment… what’s wrong Bill? Can’t handle it you got so much purpose coming out of your ears?

BB&T losers. You lost because you don't have talent. Offer useless platitudes. Wise decision Kelly. Great choice Kelly. A least you admit he was a mo--n. The ship will right itself when BB&T is finally purged.

No matter which heritage bank you were with you certainly can recognize that the management of this bank has been atrocious. If Rogers and Beau ran Suntrust the way they are running the two combined banks I don’t know how they survived. Kelly was a doofus but there was always solid executives and the employees for the most part cared and were knowledgeable. They’ll sell off insurance for a payday then when republicans are back in charge of DC the bank will be bought by a PNC or US Bank. Doomed is what Truist is.

Cry me a river. Company still made billions. It will be ok. As a Truist teammate the heritage whiners can go.

So, what you’re saying is Truist teammates have no clue how banking or public companies work and think everything’s fine. Posts like think just make the self-destruction that much more entertaining.

One of the problems with the technology is that Truist is using the barebones of programs like Salesforce (I know that for a fact) and other things that have been bandaided together and you have to call overseas to get help from someone who only know what to follow a script.

Many of the hBBT folks came from Bobby Lowder’s Colonial Bank failure and they recognize incompetent management when they see it. They also know when the beginning of the end starts…..

"Cry me a river". Wow. Incredible that someone actually believes that is OK for employees to suffer while those that orchestrated this mess get to keep their jobs, receive pay increases, fringe benefits, and the honor/respect of leading one of the nation's largest banks. Yes running a bank is hard but I guess taking responsibility is even harder.

Meawhile employees that work hard everyday but have no say will be consumed and discarded while hsti investment gangsters and hbbt community doofuses in leadership collect fat paychecks. I honestly can't tell which group is more deplorable.

It is scary they signaled at the investor conference this week that they are willing to sell off more of TIS to raise capital. You can only go to that well so many times before it’s dry…fake it until you make it, right?

Every shareholder of BB&T stock should be considering a class action. Bill Rogers has single handedly run the bank into the ground.
Whether Kelly King was naive or just sold-out can be debated all day, but the result is the same. Suntrust was not an “equal” bank to be merged with. They have watered down and reconstructed the new bank in Bill’s image and the results show. The board now risks liability for allowing this clown show to continue.

At least Bill and his fellow bandits aren’t flying below the radar any longer. They finally have garnered the type of attention that will eventually get some or all of EL and BOD out. You can’t run a company this size in the ditch and escape attention forever. You ain’t just in the ATL anymore and can’t put investment bankers in charge of real banking and expect them not to F it up. You can’t save 1.6 billion while spending hundreds of millions on technology that still doesn’t work. Selling a portion of your best business because you have screwed up your other businesses so bad. As CEO it’s your job to see rate hike’s coming and do the needful to mitigate the effects of them. Ridiculous!

"and lacking candor,” he wrote

Says it all. No confidence vote these guys off of the island.

I agree with all the comments made in this thread except for the one about “all the heritage whiners can go home”. I certainly hope the individual who posted the comment was being sarcastic, otherwise he/she is completely ignorant to what has happened since the so-called MOE

Dont be obtuse. Making billions is not a measure of success for a +$500 billion bank. $2 billion is ok by your measure . The market was promised a $1.5 billion of cost synergy. Goal post moving wont work. The merger has been a disaster even for the suntrust shareholders forget about the disruption to communities and teammates.

The equity market is not fooled. You cannnot waive away the terrible performance. Bad by any objective measure. Those 7% dividend holders are face palming over loss of principal as we speak.

Everyone lost except members of senior leadership and those with cushy board seats.

Truist shareholders, teammates, and communities desperately need shareholder activism to turn things around.

Heritage teammates have every right to complain about the strategic direction of the company. As one who started over 16 years ago, it’s embarrassing the stock price is over 25% below where it was in 2007. Our supposed closest peer, PNC is up around 70%. TFC share price is half of what the BBT price was at time of MOE. No positive way to spin it

Cry me a river. Company still made billions. It will be ok. As a Truist teammate the heritage whiners can go.

I have two words for you, Kelly King!

“That’s stung the BB&T shareholders that controlled 57% of the combined shares when the transaction closed”.

Whats really stung is this. BB&T shareholders paid a premium, for all intents and purposes, to simply switch management teams with a lesser performing bank, one of the worst run in the industry.

Like the analyst, I am shocked there has not been shareholder activism - BB&T shareholders got the short end of the stick in this one.

As of mid-August, Truist stock had declined more than 40% since the deal’s disclosure. That’s among the worst performances of the big U.S. banks, and compares with a 63% increase in the S&P 500 Index in that same period. That’s stung the BB&T shareholders that controlled 57% of the combined shares when the transaction closed.