Is this true?
9 replies (most recent on top)
Layoffs are no longer going to be a random/once in a while events. This bank will now operate like every other big bank and tech company has for the last 10 years; layoffs will be an ongoing, regular event, happening 2-3X/year. Get used to it or you will start succumbing to PTSD.
Welcome to the Hunger Games.
It always happens on the 15th so your benefits end and you do t have another paycheck aside from your vacation time. They will most definitely weasel your time off from you, so grab those screenshots.
Winter is coming!
Make some soup out of those seeds of hope!
First-hand Experience has entered the chat......
Step back and take an honest look at yourself. If you have been at the bank for a long time (>10 years), are late stage career (45+ years old), and take home a pretty nice salary (e.g. close to the top of your grade) you are a 'red cell' in one or more spreadsheets. You are expensive and will be more and more expensive, every couple of years. You can be replaced by someone younger, cheaper and healthier (think increasing healthcare costs as a function of age).
Always have a plan. Nobody owes you anything. The end will come quickly and without warning. Don't get complacent.
Two simple facts are crystal clear. First, layoffs will continue as long as Truist exists - PERIOD. Second, while Truist began as a retirement gift for Kelly, it has now 100% morphed into a “cash machine” for the remaining Execs. They will milk it for millions, then “Truist” is sold before the house of cards falls.
You see, layoffs can’t end because layoffs are the engine behind the “cash machine”. They are funding E14’s huge bonuses, and are now funding the $2 billion in stock buybacks to prop up the stock price (and their massive RSUs).
So, instead of supporting their employees, investing in the future franchise and technology, they have decided to cut loyal employees and go the route of financial engineering. It is just sad the analysts haven’t picked up on it yet...
Of course......and soon
Are you people really delusional enough that you don’t understand that layoffs will be ongoing for this entire year?
Is it Really True?
As in before the end of the month?