Thread regarding Truist Bank layoffs

Sizable reductions… why don’t we stop some of our large charitable contributions for awhile instead of sacrificing our teams. Stop putting money into purple neon lights and hi technology centers or how bout planning the spending on things as simple as new furniture and carpet for branches that we turn around and close that is just wasteful. Does one hand know what the other is doing?

BB&T did not need SunTrust. Instead, BB&T threw SunTrust a life preserver. BB&T Insurance Services was a huge enhancement to SunTrust. After Kelly King retired, SunTrust executives began to elevate. I’m so thankful to have been able to take advantage of the early retirement program. I felt like this was coming.

Soooo when they cut expenses by $750MM in 2024, do they have a line item for expenses going up again in 2026 when they realize everyone else left on their own? I mean I can understand there’s definitely opportunity to improve and reorganize from an ops perspective which is a hot mess. However, most people if not all at this bank are spread sooooo thin as it is, they really think that cutting that number and telling someone they now have to take on more responsibilities with 0 increase in pay when they already are underpaid? Cool cool cool makes sense.

None of this comes as a surprise to me. This company treats its teammates like trash and it was happening before the merger. Especially to the bbt associates. Maybe Bill should try cutting the teammates alcohol consumption expenses that's being masked under other expenses while drunks continue to get drunk on the company's dollar.

If you think SunTruist management cares about you, you are delusional. The word “synergy” as it relates to the MOE hasn’t been used in a couple of years as it is no longer the buzz word of the day. Also notice Bill has also pivoted from use of the “chassis” in reference to changes. His consultants and wordsmiths got him off that quickly. The man is a fraud along with Thompson, Beau and Maguire. Don’t get me started on your “Chief Teammate Officer” and her band of merry DEI’ers……..

A public announcement of this magnitude and not one internal note, email, post, or meeting acknowledging employee unease. Care anyone?

How did Truist leadership EVER believe a 7% increase in 2024 expenses was going to be accepted by the market? You sold the market on decreased expenses due to "merger synergies." Complete arrogance.

As a former BB&T teammate it seems like everything has been for the worse in the merger with SunTrust. Red tape has quadrupled, morale is getting worse, and management seems to be increasingly out of touch.

The one who has been told that they are not on rif list..
Can you share in which lob/job role they are part of?

Thanks

But, but... how can this be? Look at page 3, the values include, caring, trustworthy, happiness.....

Slide 6 of the presentation was interesting.

I was told by my manager that i'm not on the RIF list last Friday morning and I could ignore any news about it.

Market is not buying what Bill is selling. It’s called no TRUST in SunTruist!

See the filing and the deck from the presentation simply by going to Truist's Investor Relation's site

where can you see the filing?

You Teammates should go look at the 8k filing that was done today. You will get a better idea what your future is. This filing is telling in many ways.

Is it across the org? While there are updates about some big changes like those in Ops etc, but actual details are so vague and unclear. Not good time for employees.

Post from TheLayoff.com

Contractors being cut this week