Thread regarding Truist Bank layoffs

"Minimal job prospects out there due to state of the economy"

The economy outside of tech is doing great. Objective math supports this. Jobs are as easy to find as ever, but job hunting is a skill that not everyone has.

I know this is really hard, and the lack of answers and communication is even harder. The good news is that if you're an FTE you will receive some severance to get you through, and if you're a contingent worker you will at least receive some unemployment to help. While the economy isn't perfect, the unemployment rate is still low and you're likely to find a new job within a few months. Hang in there, better times are ahead.

William H. "Bill" Rogers Jr.
Chief Executive Officer
"When led by our shared purpose to inspire and build better lives and communities, we create meaningful change for our clients, teammates, and stakeholders—and it all starts with you—our dedicated teammates. That’s why we believe in providing a total rewards package few employers can match to support you throughout life’s journey."
At Truist, our purpose is to inspire better lives and communities. Our Truist Teammate Handbook is a reflection of our commitment to better.

Our purpose is to inspire and build better lives and communities. We do this through real, unwavering care. http://Truist.com/SocialTerms

It’s working at Truist that is making you freak-out and feel depressed, not a potential layoff. Your subconscious mind can’t handle being lied to and gaslighted all day long. Go work for a community bank. Yeah, it might pay less, but you will have your sanity.

I just pulled up my purple socks, put on my purple shirt and am headed to the office. I’ll smile and say hello if we make eye contact

Take a break off social media, stop doom scrolling, eat a healthy meal, and get plenty of rest.

You're giving yourself anxiety. Do your best and focus on one step at a time. Breath. Life will be okay whether you're at Truist or are laid off.

Some of us are in the mortgage side of SunTruist and with the current rate environment mortgage related jobs are slim pickings to non-existent, unless you are a loan officer. Operations people have every right to have anxiety. Losing a job for some of us could mean losing our house. UE barely covers COBRA let alone a mortgage payment. WARN can easily be avoided if layoffs are in small batches over time/multiple states. If a layoff doesn't fall under WARN teammates are not required to get a 60 day notice, just severence. It's a su-ky situation and my fingers, toes and eyes are crossed I don't get laid-off. Prayers for all of us!

So much Boomer hate. Millennials sure do love hating on us. Really gonna dig watching you work to fund our retirement.

Ok “getting migraines is a choice” Boomer

I have my days but overall I wouldn't say I'm spiraling.

If it was news to you you're disposable and could lose your job at any moment you were under a delusion. Part of being a employee is accepting the risk that your (primary for many of us) income stream could be cut off at any time. For that reason, there's always been a least a low hum of stress and concern for me.

Obviously now is not a time for big purchases. If you do have any savings, get it in at least a high yield savings account. Change any life style habits you can bare to pull back on (because you might be forced to soon).

Polish up the resume. Make sure it's impact / results based rather than task based. Apply daily. Expect to not get calls. When you do get one be on your A-game. Well rested, not hungover if you're a drinker or if you've become one thanks to work stress. Be willing to take a step down in role, and/or a paycut. Even if you're living check to check (or worse), money coming in is better than unemployed.

According to the WARN act, employees are required to be given a 60 day notice in the event of a mass layoff. I don't know if it will get triggered in the case of Truist.

"The WARN Act requires employers with 100 or more full-time employees (not counting workers who have fewer than 6 months on the job) to provide at least 60 calendar days advance written notice of a worksite closing affecting 50 or more employees, or a mass layoff affecting at least 50 employees and 1/3 of the worksite’s total workforce or 500 or more employees at the single site of employment during any 90-day period. Not all dislocations require a 60-day notice; the WARN Act makes certain exceptions to the requirements when employers can show that layoffs or worksite closings occur due to faltering companies, unforeseen business circumstances, and natural disasters. In such instances, the WARN Act requires employers to provide as much notice to their employees as possible."

Severance will provide some cushion assuming you've been with the bank long enough. PTO is paid out, avoiding using it if you can right now. I've /heard/ bonus (if you get one) pays out for what you've accrued when you leave but I don't know if that includes layoffs.

If offered a comparable position internally you have to take it or no severance. It would be wise to accept even if you intend to not stay in it / with the company.

"(b) Any eligible employee who is offered a comparable
position, which he refuses, and who incurs a separation
from service, shall not be eligible to become a participant
entitled to receive any severance pay under the plan."

Plan but don't worry too much about tomorrow as you can cross the bridge then. Most of pasts challenges have come and gone. Some even forgotten. We're all more resilient than we probably realize under the right (or wrong?) circumstances. And as we all learned in Jurassic Park: life, uh, finds a way. You'll be alright.

And who is it hurting freaking out about something that no one knows when or if it will happen to you? YOU. I truly believe these posters are just trolling because I so want to believe that we don’t have people that are so immature and freaking out about something they can’t control so they get migraines, stressing out, et al. Do your job and be looking around for another. Period. Stop whining like a 2 year old.

Now being with the “boomer” intolerant, insensitive, un-diverse comments against someone you don’t even know. There are actually those of us who are mature and have a brain.

I have three interviews next week. Stay positive and focus your efforts on what you can control.

Part time jobs are going gangbusters. Defaults are going gangbusters. The 1% is going gangbusters. Government is borrowing a trillion a quarter to stay out of recession and the party is drawing to a close.

Unemployment is at historic lows, GDP is growing at gangbuster rates and no matter how hard America hating Fox News and the MAGAs pray for a recession, it never actually arrives. The only thing keeping you stuck at Truist is you my friend.