No surprise here!
https://www.marketwatch.com/data-news/truist-financial-corp-stock-underperforms-thursday-when-compared-to-competitors-57da6c77-504145c567cf
4 replies (most recent on top)
The news about selling the rest of insurance didn’t help.
It has much do do with the (in)competence of Executive leadership. Name another corporation that nearly double the number of executive leadership positions (from 11 to 21) as part of a cost cutting measure? You won't find one and you won't find another corp with 21 members of the executive leadership team. You now have 21 overpaid b-ms patting themselves on the back for their failure instead of 11 while experienced people that do the work get the axe. This is all you need to know about he business acumen of Truist's exec team.
What does this have to do with layoffs?
The reason they cut expenses (ie layoffs) is to improve shareholder value.
Thanks, Captain obvious.
What does this have to do with layoffs?