Thread regarding SunTrust Banks Inc. layoffs

How many job cuts will come from bb&t suntrust merger?

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Post ID: @OP+10GQ5tRL

16 replies (most recent on top)

I am a former BB&T employee who retired 6 years ago. My original employer was merged with BB&T. A lot of my fellow colleagues left prior to takeover. In hindsight they were smart to do so.
On day one BB&T management told us they only want to keep the brightest & best (that's corporate culture & we did have a lot of deadwood) but also out went the water-cooler, refigerator and 15 minute breaks. We were told "BB&T does not give breaks, deal with it".
As an employee you stayed at your desk or position on teller line. You needed permission to visit restroom facilities ( I kid you not)! Professional nightly cleaning staff was cut to one weekly visit, with bank staff taking up duties.
Employee turnover was high due to unreasonable sales quotas....you sold profitable bank products or you were gone. Upper Management ruled by fear & intimation.....("We pay you & we can fire you"). Many back room departments were eleminated outright.
The bank technology was ancient and we had frequent system crashes and clients were inconvienced and angry. Tellers life as terrible..stuck between hostile management & customers. A large number of valued customers left.
Mergers are high cost due to legal fees. Those costs are fixed but, employees are a variable cost that can be reduced via staff reductions. Expect high numbers of attrition. Good luck present employees, you will need it.
I wish to be heard but, I wish to maintain anonymous.

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Post ID: @5bbwp+10GQ5tRL

We had the same situation when SouthTrust sold out to Wachovia...lots of good people lost their jobs but the board at SouthTrust got even more wealth. Thanks a lot Wallace Malone

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Post ID: @3Obli+10GQ5tRL

I heard BB&T told the under writers at Greenville mortgage service center that they would be safe from cuts. I don’t know if I would put a lot of faith into that statement, it sounds like a desperation statement to keep people from jumping ship?

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Post ID: @2Uray+10GQ5tRL

The combined banks have a huge mortgage operation with lots and lots of overlap. I suspect they will do some consolidation soon.

'Legacy' BB&T is woefully behind in technology here. Its the dark ages compared to the competition. Way too much manual intervention. Expect 21st century tools to start appearing and the need for people continually to decline. Same for branch.

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Post ID: @2Hwqi+10GQ5tRL

I wonder if they will make cuts at the Mortgage Service Center in Greenville SC?

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Post ID: @2Gbel+10GQ5tRL

SunTrust employee here. My last day was Dec 18th and my "offical" rif date is 2/14/2020. I feel like they knew all the information before hand. They acted like they didnt know when legal day one was. Legal day one hits on Dec 6th, and on Dec 12th I get a layoff date........then I am told my last day would be that next week on Dec 18th. I feel alot of us were/still are in the dark for no reason. I truly hope the best for the company, but the layoff process was truly unprofessional. It could have been handled better.

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Post ID: @2mzkg+10GQ5tRL

I heard it will be after the holidays

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Post ID: @2gdph+10GQ5tRL

I was told last week I did not make the cut for Truist but can apply for general bank positions when they open the postings up. At some point, supposed to get an email from HR with a link. However, I have not been told when my last day is. Another sit and wait move. It’s getting old. I am not quitting though. That’s what they want folks to do so they have less severance payout in the end.

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Post ID: @htkz+10GQ5tRL

So sorry to hear. I’m glad you aren’t waiting to know still and can start your search to move on to bigger and better. When’s your last day? My group still doesn’t know.

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Post ID: @azmv+10GQ5tRL

Which departments and roughly how many at both companies? Sorry to hear it.

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Post ID: @8pmi+10GQ5tRL

BB&T employee here. We feel your pain. Our department was notified of cuts last week, including myself. I understand SunTrust experienced a similar number of cuts. Most other department cuts will occur in the coming weeks/ months. I feel bad, not only for myself (and family), but for other co-workers, as well as you all. This game has no winners... Only losers. There will be a lot of quality people looking for work soon.

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Post ID: @8elw+10GQ5tRL

It wont be until after Christmas so save that Christmas bonus

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Post ID: @4hyt+10GQ5tRL

A conservative number is approximately 8 thousand, it is probably going to top 12 thousand before all is said and done.

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Post ID: @4hrn+10GQ5tRL

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