Thread regarding Truist Bank layoffs

Why are we always a step behind? Our new guidance models a 3 rate cuts starting in June while the consensus is now 2 at best later in the year, with a possibility of none if inflation persists. Of course other banks had already dropped to 3. My assumption is it’s an excuse we can use on future calls when it doesn’t happen, but at some point, you just end up looking bad

Chuck Jones former C suite exec at Suntrust and then Truist continues to call out Rogers. Maybe he will get the BOD’s attention! This is his LinkedIn post this morning.
Once again disappointing results. Even with the sale of Truist Insurance Holding’s the expected by the end of the second quarter here are my thoughts: (Earnings have been restated for the sale of THI)

• Expenses are still only expected to be flat after continuing cuts to FTE
• Efficiency ratio after years of cuts is still terrible which shows lack of discipline and leadership
• Despite the attractive markets revenue is expected to be down 4-5%
• Forecasting 3 rate cuts which shows a lack of transparency that 2 or less rate cuts are expected but did more down from 5 rate cuts
• stock price is down approximately 25% in the last 5 years
• did highlight small business growth (8600 with $700 million in deposits)
• Undisclosed growth in Prime Auto but not Regional
• More restructuring of the balance sheet of the bank and staff

Customers aren’t either

It was more of the same this morning. I think the market has caught on and just doesn’t expect much anymore

I'm no financial genius, so if I'm wrong let me know. The personnel expense, is it not going up? I though the whole deal about the layoffs was to lower personnel expenses. Is this due to the expanded "Operations Council"?

They missed analysts' estimates for revenue on a taxable equivalent basis by $840 million. Sounds like they are really considering the shareholders.