Thread regarding SunTrust Banks Inc. layoffs

Is the acquisition by BB&T going to produce layoffs?

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?

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Post ID: @XvqiJX8

3 replies (most recent on top)

Up to 1000 branches to close

10,000 on staff reductions

That should cover management bonuses nicely

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Post ID: @XvqiJX8-1Xkse

Bet on it. SunTrust’s strategy has been to automate or offshore as much as possible. Their obsession with cost cutting has resulted in a archaic institution with no technology that only third rate talent would want to work for.

Job cuts will be plentiful as the seek out those “synergies”

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Post ID: @XvqiJX8-2jsd

24% of branches overlap. You bet there will be major layoffs.

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Post ID: @XvqiJX8-wxn

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