How do you all feel about the merger?
18 replies (most recent on top)
Our Suntrust group healthcare was BLOWN-OFF into oblvion. Cobra cover twisted the knife. May the unamed selfish, greedy corporate scum receive kharma. Hate you.
BB&T already started laying off older workers nearing retirement.
SunTrust and BB&T used a word that should terrify their employees
I'm a BB&T client who, simply stated, could never in my wildest dreams, have conceived of a branch of any bank, filled with folks who are so compassionate and concerned about our needs. The folks who work there, from the branch manager, Branch Bankers III & IV, head teller to the part-timer, treat me and everyone else like family. That's no understatement. I'm scared for all of them.
Bank mergers are very difficult. The politics and backstabbing by Suntrust management will make this merger very difficult to manage at best. The arrogance and ignorance of Suntrust IT management is particularly worrisome. The businesses will find a way, one way or the other to survive but integrating the technologies between the two companies into a single platform will take a long time which will impact the ability of the bank to introduce new and innovative services. New technology leadership will be needed but beware if Suntrust IT management is put in charge.
I hope this will be a good thing for SunTrust employees. Hoping for a culture change since their culture is so outdated and also an upgrade to the benefits. Also change up their technology department since it is being ran more as a production environment instead of delivering quality technology upgrades for their customers and business partners. Good Luck SunTrust, you will need it!
Probably great for BBT, since it picks up Florida with no wear and tear. Nothing for Suntrust, except the CEO who gets the position at the new company in a couple of years.
Unanswered questions of what happens to depositors and credit card holders. Good or Bad? Maybe best to find a new bank. If I was moving into town and saw bank named Truist, I would put my money anywhere near it.
Did anyone remember what happened in 2013 when SunTrust layoff 400 employees?
Beware ST employees (BB&T as well). The good old boy network at BBT is alive and well, quite prominently in the specialty divisions and community bank areas. Country Club elitists running these areas, distain for women and minorities is rampant. If you're not in the cliques or one of the college program alleged smart ones you are given no sense of being wanted or needed. If they want you to have an opinion they'll give you one. You will be shorted on raises, bonuses and promotion opportunities and treated as a second class citizen. You have been warned.
I hope they will let all branch employees know ASAP who they will let go months in advance. That way they can plan in the coming months because they are the lowest paid employees and it can affect their family with sudden news if they lose job without knowing in advance.
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 damn secret. ANSWER: Its secretive because they know already WHO they are keeping and who they are not. Pulling everyone's legs saying "Continue business normal" just so there are no panic attacks or worst. When purchasing a home...You already know what is coming and how closing is going to portray. Tired of these industries and now I've started my own business and will be leaving soon. I am one of those who do NOT have time to wag a tail for perks. I rather leave and make a new development. They can have the STRESS
Jump ship before the market is flooded with skilled applicants.
Your pessimism is well-placed. I worked there for over a decade and my friends still there say the culture has only gotten worse. The only thing Bill Rogers cares about is cost control.
And if BB&T offers good benefits now, expect them to go. SunTrust benefits are horrible and extremely expensive. Leaving that cesspool was the best career move I ever made.
Just started collecting my SunTrust pension 6 months ago. I am ecstatic.
Another BB&T IT guy here. I can tell you that the news sent shockwaves through all of us. That morning we were all on SunTrust's career page to see what types of jobs they were looking for and if it overlapped what we're working on.
We have great benefits including a generous bonus and pension plan and we're all worried those will be the first things to go for the people that get to stay.
Going to be a wild ride for the next several months.
BB&T Employee here. As a member of the BB&T IT staff, I can say my 'team mates' are also afraid of what's to come. I'm sure there will be layoffs - probably in the branches first, maybe in IT as well, but I'm thinking IT will take a hit soon after the branches are consolidated. There are a lot of people at BB&T that are eligible to retire. I'm hoping they offer early retirement to those eligible individuals. That is something BB&T has NOT done with past acquisitions. I've come to the realization, that banks, in general are soulless and backstabbing and there's little regard for the employee.
It's a disaster! It damages the role of the employee to have to go along with it. Having to cope with this news for months can be demotivating. I come into work this morning and hearing all sorts of things about the merge. I am not surprised! There are employees who are unaware still and continue to try being positive knowing its a possibility for mass layoffs. I am not happy about this at all but some changes come can be beneficial.
Richard Bove is a smart guy. https://www.cnbc.com/2017/07/14/let-the-bank-merger-boom-begin.html
As a former LONG-term SunTrust "teammate" (boy, I'm glad my current employer doesn't use that hokey, contrived, artificial term), I'm hearing already from current SunTrust employees who are very worried. No surprise that Bill and Beau are going to ride a wave of glory and riches with no true regard for those who got them there. At least for the headquarters employees, that place has been soulless and backstabbing for years. I hope that my pessimism is misplaced and that there are roles for the many, many good, smart people who've worked there for so long.