EL rolling out “expense rationalization initiative”. Will be communicated to managers soon. Terrible news for teammates as means mass layoffs to cut costs. Bill and team are shifting strategy to focus on “keep the lights on” and retaining teammates that are business critical
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“Anyone ‘outside the 40 mile radius’ should be the first to go #BetterTogether”
That’s a whole lotta guys named Rajesh…
Location will affect who goes for certain.
Anyone "outside the 40 mile radius" should be the first to go #BetterTogether
Am ready for it!
BRING ON THE LAYOFFS!!!! We have folks on our team who are d-mber than a sack of bricks 🧱. Pitiful problem solving skills. Unable to figure things out on their own. Have to spoon feed them everything; even though they’ve been on the team 1 year or more. I’m sure they had 2.0 gpa or lower in math and science classes in school.
"layoffs increase the stock price"
Well, what are we waiting for?? LET'S GO!!!!
The rapid succession of these comments makes me think the same person is commenting on their own post…
@a5+1jrdcdye2 - WFC, JPM, BAC are all laying off significant numbers of their employees. TFC will as well, soon. Unfortunately layoffs increase the stock price. BillyBob will certainly implement substantial layoffs as it’s a quick fix and he has shown he will do anything to appease investors so that his job is safe
Until the institutional investors have had enough nothing of significance is going to change. When are they going to pull the ripcord on BillyBob? Layoffs of the people left aren’t going to make a dent in the problems in this bank. What the he-l is the BOD doing? Nothing left to sell that can save the investment bank. Tick Toc Tick Toc
How many banking competitors are focused on expenses with the uncertain economic conditions?
Shareholders are livid over performance of TFC stock price. Investors are demanding tangible changes. Expect significant layoffs to cut costs and consequently prop up the stock price
What isn’t business critical at SunTruist these days. Every aspect of this bank is under attack by multiple other bank franchises and it will continue. Bill has destroyed what should have been a great bank.