Everybody should be preparing for potentially being let go. If you don't see the writing on the wall, I feel sorry for you.
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Truist keeps on hiring and adding management layers in many areas including mine. This doesn't align to a company that claims to be cutting expenses and reducing its expense growth rate. Lower paid employees go and new positions are filled by new hires from "bigger banks" who are paid more. Not seeing how it's a net reduction in expenses?
Investment banking just announced another batch of new hires, 6 MD’s in the group. SMDH More best of the best no doubt!
@vv Yes. It's rather simple. Tell your 'friend' to do something d-mb to get written-up (but not fired). That will instantly move him/her to the top of the RIF list.
@r2 Spans and layers? HA! What a joke! My LOB added MORE layers. The only ones RIFed during project STAR were lower level teammates who actually do most of the work. Not one manager was RIFed.... NOT. ONE!
My question is what are all the chiefs going to do after they RIF all the indians?
Is there a way to get moved up on the RIF list? Asking for a friend.
@dq before he got here they were getting rid of “spans and layers” and once he got hired he doubled the amount there were before.
@dq Heavy emphasis on the air quotes. He's hiring all his friends...on top of the unskilled and uneducated group heads under him. It's the hierarchy from heII.
Amazing insights, Captain Obvious.
They gotta pay for all this high priced “talent” someway. Look at Hagerman’s org alone. Millions in new high priced “talent”.
Always enjoy coming here for the hard hitting news!
layoffs happening all over the company.
Here we go with the rumor mill …… layoffs are a part of corporate America unfortunately . Just because you know somebody within Truist that was laid off doesn’t mean the bank is restructuring again .
What’s your source? If it’s the 5 day RTO, guess what? ……. Several banks are doing the same. I’m not saying I agree with it since it does su-k , but that reduction through attrition is a way for the bank to NOT layoff people. They don’t want to pay severance and unemployment. They’d much rather you walk on your own, so unless you have a specific source, stop the stupidity.
They never stopped, just laid off a small number a few days ago, we lost two in our area. I'm pretty sure layoffs have happened consistently for the 15 years I've worked around mortgage. Always assume you're next, keep your resume updated and keep networking.