SunTrust Mortgage has signed immediate contracts with Infosys to offshore the loss mitigation process. All documents sent for review for short sale, deed in lieu, and modification requests will now be reviewed by folks in India. All letters (approval... — read more
Topics regarding layoffs at SunTrust Banks Inc.
SunTrust Job Cuts 2020 - post any info you may have.
Typically, mergers become a math game for the new company. How do you pay out the least amount of severance while retaining talent during the transition? The least minimal disruption will be made during the merger so that HR can retain the right to... — read more
How do you all feel about the merger?
For how long will we have to come to work with the proverbial ax constantly hanging over our heads? Why can't they simply notify all of us right away, instead of making us stress unnecessarily? I really think this could have been handled much... — read more
ST employee here. I am astonished and disappointed in how this is operated. It messes with folks livelihoods. I sit here everyday wondering but no answers (no real ones anyways). I do not like working for a company who acts as EVERYTHING is a... — read more
Has anyone heard about the call centers for collections? I work at a bb&t collections call center in N.C......we are all just sitting around wondering what’s about to happen.
Our department at Suntrust was sent an email last week asking us for feedback on what can be outsourced.
It appears Suntrust Teammates are being put in leadership positions by an overwhelming margin at Truist, Why so quiet on this forum? Would love to hear some thoughts on what is happening up to this point. Certainly many of you have opinions on the... — read more
I can’t sea merger of this size not producing a radical reorganization within both companies, especially within Suntrust as the acquired party. Will this shifts produce layoffs and, if yes, to what degree?
I have been through three mergers with BB however, Kelly King and other executive management are reaping record breaking salaries and payouts. SunTrust Bank has Full Time Employees: 22,899 and BB&T has Full Time Employees: 35,852 for a Full Time... — read more
There have been some recent calls/meetings telling 'certain' teammates about early retirement packages being offered to them. Apparently on one of the calls to some older folks in EIS (about two weeks ago), the HR lady said 'to make room for younger... — read more
SunTrust's long dependency on offshore resources and 3rd party consultancies is now finally starting to remake how projects are supported within EIS (Enterprise Information Services - SunTrust's IT division). In an effort to wean themselves off of... — read more
Here is a brief layoff survival guide: Learn from us experts that have already gone through what SunTrust Banks is putting you guys through as it gradually replaces each of you domestic counterparts with cheaper offshore workers. 1. Don't write any... — read more
SunTrust Banks in here in Atlanta will cut 100+ IT resources and it will move work offshore, way to go, good way of taking care of America. The bank is asking all folks that will lose jobs to accept the severance agreement requires terminated... — read more
100 folks in the mortgage group to be cut (some already gone) - this is Sept 2013 - 2014 will be bad...
Layoffs will continue in late 2014 and early 2015. All competitors already cut mortgage groups big time.
I have been around for a while, two decades to be exact and I can tell you one thing about banking: We always look how to cut costs and generate more profits, so do not be perplexed if you hear about another round of layoffs sometimes in 2015. It'll... — read more
Talk about a place that wants to have its cake and eat it too! SunTrust tells us to look for the clients best interest, which is good and something we should definitely be doing, but then they turn around and fire you if you don't make enough money... — read more
Most of the issues SunTrust has now can be linked to lousy leadership we have. The level of micromanagement is astonishing. In addition to it being impractical, it's driving some of our best team members out. Pressure from the above to increase sales... — read more
Retail Branch Loan Officers also received a huge surprise yesterday: All Branch Originated Mortgage loans will now go through the Phone (Consumer Direct Channel) and not with personal Loan Officers. This will dramatically hurt Retail Loan Officers... — read more
not sure why everybody at suntrust is so resistant to change... management and executives are missing the essential leadership qualities... they refuse to even consider new ideas... they are stuck in their old ways, and there's no changing that... — read more
what happened to our benefits? my health care costs more than doubled in the last few years. we were under the industry standard as it was when it comes to benefits, now i think we've hit the bottom. no wonder our retention is as bad as it is. people... — read more
Like the Movie "Office Space" but not humorous. Lackadaisical Executive Team from CEO down. No reinvestment in new technology which allows competition to run circles around them.
Former BB&T employee here. BB&T is a great company with great benefits. There have been layoffs and restructuring of departments for the last couple of years. The department I worked in was completely disbanded and the entire group was given... — read more