Executives in my space keep taking about July 1 as if it’s a giant reorg day. It is definitely implying layoffs in RMO. Anyone else hearing it? I thought it might be a new CEO but they did that last week. Probably too late to do anything other than step up the job search.
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So it didn’t happen… shocker
Maybe I am suspicious but some of my coworkers seem to have less work than usual. I guess we will see what happens tomorrow.
@jr I’m afraid you don’t know what good looks like, at least in today’s day and age. I’m sure Clarke was a fine credit guy 20 years ago when BBT took very little credit risk and just kept buying banks and hitting numbers through purchase accounting. No need to take and manage risk when you can just avoid it entirely.
Fast forward to today, the world is a different place (esp. in the technology realm), and the old BBT strategy of buying up moderately-sized banks doesn’t really work since Truist is fairly large and can’t get approval to do it. Plus still dealing with aftermath of the MOE. So now you have to produce organic earnings and profitable growth, and similar to other comments in this thread, it’s hard to do that when all you are focusing on is expense cuts and layoffs.
A few years ago I heard someone say that Truist has a revenue problem with an expense solution. Here’s to hoping that Lyons brings fresh perspective to get the company firing on all cylinders!
@j9 you do realize there are multiple divisions with different areas or are you truly an id--t? I’m sorry, but just because someone asks what the acronym stands for doesn’t deserve a POS answer.
You must me the poster who puts this same post every month. Just stop. You make this forum useless
@qk well I just made AVP so I am safe.
Lotta buckin going on here. Time for some knuckin
@pj still a head scratcher for everyone in the department, just another example of BR clueless and trying to insulate himself, guess it didn’t work out too well.
@jt The chief audit officer leaving would do the bank a lot of good. Nothing like have someone who has no audit experience leading audit.
@j9 different issue, Try reading and throw a little comprehension in there. I didn’t ask what RMO stood for. My point was stop using obscure acronyms and department references, using “RMO” as an example.
@js If only they remove the CRO. Maybe we can believe in dreams again.
@jr I am so glad you reminded me new CEOs remove executives and bring in their own. There may be a bright side to all this.
RMO has been on a downward spiral since Starnes retired and Bender was promoted beyond his abilities. That guy should sharpen his resume. It will be interesting to watch who gets axed with a new CEO who will want some of his own people in high positions. The games begin September 1.
@hy Everyone knows what RMO is based on what someone replied below. How about reading sometime. Say it with me, Risk Management Organization. If you work for Truist, or any bank for that matter, you will see an absolute ton of acronyms. Don’t be a DA.
The acronyms. Ge-z. On a board with I don’t know how many dozens/hundreds/thousands of people. How many, INCLUDING TRUIST EMPLOYEES, know what RMO is?
Some of them do nothing and are just riding out their final years before retirement.
I hope something is said soon. The tensions are very high in certain areas of RMO. Other areas are hiring but the ones losing people and not back filling you know RIF is coming.
Honestly, the disaster in RMO is due to layoffs and an over reliance on contractors who have no skin in the game. It has been going down hill since I have been at the company.
I have not heard anything but there is a strange vibe. The last RIF hit ECCO, I am waiting for their counterparts in RMO to be affected.
@a8 risk management organization
What exactly is an RMO?