How about...wait for it...wait for it...we start promoting competent people who know how to do their jobs once again instead of friends and cousins of management and run-of-the-mill sycophants? How about it? How about we reward good people for their work and contributions instead of slackers and yes-men? It's so out there it might work, you know?
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Bring on the job cuts……Billy needs to manipulate that stock price higher.
Call it blood money. That $500mm+ In cost savings ain’t gonna cut itself
SunTruist has no leadership left. They rid themselves of any and all real leaders systematically for the last 2 years. King Kelly surrendered to Rogers and his minions in the name of legacy. We see how that is working out. Cowards and spread sheet pushers are all that remains.
You would think, except under the current leadership, not many will be recognized for their contributions. They are currently looking to cut another 25% of it's non-client facing employees. That does not include employees losing their jobs from branch closings.
Truist is still on track to reach $1.04 billion in net cost savings by the end of the year. That would be 65% of the $1.6 billion in merger-related cost savings the company has promised investors by the end of 2022. With that said, still more cuts are needed to achieve this and severance packages will be ending. If you start seeing more write up warnings, that is the reason, it will be based on poor performance. It's sad but true.
The idea that Truist has any competent people left is indeed radical.
That's just crazy talk! :)