I think the leadership is going to come up with creative ways to reduce expenses like maybe having everyone forgo raises and lower AIP instead of layoffs. I don't know of anyone that's been laid off.
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The fact that you don’t know of any makes you suspicious? Puuullllease!
I personally know over 25 people in varying units or LOBs. And that’s just me. There is non memo announcing who’s gone….they just go…and go quietly in order to get paid for 30 days.
These “retirements”….those are just ,aid off associates who had enough time in to call their layoff that.
Grow up….it’s a bloodbath right now.
The 401k and health insurance is part of your comp plan. Why is the below person complaining an issue? Should be feel privileged to have a job??
Most banks also went through and gave legit cost of living increases to combat inflation which this company failed to do.
Cry me a river about the different health insurance cost and plans. Obviously the person complaining about this has not seen what other banks plans are. Much higher deductables and much higher premiums. get out of your bubble and look around
Well, jolly good for you. I let the wealth advisor who was laid off know about your opinion.
401k match dropping from 6% to 4% starting January 2024.
The layoffs started this Monday with several hundred and more to come. This is first hand knowledge. They have already down graded the health insurance benefits package 2024 as well. Which of course costs more money.
Like someone said mail out more markers, maps, books t-shirts etc to EVERY employee. How much money is that? BB&T was a great place to work it's shame Kelly King sold us out to Bill Roger's he's not capable of running a dog house. I was laid off 6 months ago after 10 years. I'm watching the house of cards of fall and my remaining friends lose their jobs just in time for the holidays. SMH
there will be hundreds of employees getting laid off. But Bill got his bonus, didn't he!
And he's selling off the Insurance piece - which was a huge area of success for BB&T. Then he'll sell off more real estate, the company planes (though he'll keep one so he and his family can still use it for their vacations and personal travel while making everyone else fly commercial). Then he'll get rid of the decent benefits and give everyone bottom shelf options. And then maybe the pensions will go. Bill and his ST gang succeeded in truly making that place SunTrust 2.0...BB&T bought them and then the SunTrust gang just took over - spending money like they had a blank checkbook. Wasting money on pure purple cr-p. What a shame
You’re clearly not listening then.
Come back and say that in a month or two.
Layoffs happen in batches, across different units. Some are already gone, some are in skp, others are yet to come.
Best thing to do is pretend it isn’t happening and never mention the missing.
They were saying layoffs in September, then October, now they’re saying November.
Next we’re going to hear the day before Thanksgiving, then they’ll say the layoffs will be on Christmas Eve…
These are all the chicken little crazies
Mid November is what I heard for the next round. 1st Qtr for those on the bottom of the food chain. Time will tell. Prayers for everyone!
Let's see....$300 million huh? I figure that's about 3k employees, or 6% of the Truist workforce. I guess it depends on how you look at it. 94% are safe...but over 3k lose their jobs.
I thought I heard they would happen in October?
This is how you know you’re on the list.
They promised Wall Street 300 million in employee cuts. They are targeting November for the bloodbath. Good luck and may the odds be in your favor.
Maybe they will cut more costs by mailing out additional lame a-s candyland maps complete with the dry erase markers?
I also don't know of anyone that's a billionaire in real life but that doesn't mean they don't exist