Thread regarding Truist Bank layoffs

@31k and redundancy isn’t where you want to be. CIO has a video talking about how great AI is going to be and won’t replace “humanity.” Oh, really?! Guess he hasn’t heard speakers at the WEF and elsewhere such as Goldman Sachs and Chase.

Inept leadership. As we just found out today about ANOTHER sc--wup: now when we send ANY form to a client in Wealth we have we email ourselves the hard copy so the email retention system has it. There is no retention in DocuSign. How the cr-p did someone forget to set that up?! Every single darn document. Hard to imagine that the systems we hated were much better than their “improvements.” We were in a call this morning and several people asked why we were having to do this starting 7/1. Response: “I don’t know.” I do. It isn’t hard. Truist has sc--wed up AGAIN and the people who were in charge of this sc--wed up AGAIN, but guarantee they still sit in their seats. Not if I was in charge. One sc--wup I could possibly let go. Mistakes happen. But it has been one major cluster the last 4 months and no one seems to know anything nor when the solution will be implemented. We are SICK OF IT!!

Three words.

Return To Office.

They basically told top performers they don't care how effective they are, they can't stand to see people with a reasonable work/life balance.

After 20+ years here, the last several have been the most toxic by far. Leadership keeps saying they care, but their actions prove they don’t. There’s zero career growth, and promotions are handed out to people who aren’t qualified. It shows every day in their lack of knowledge and basic competence.The company is buried under pointless layers of management, and upper leadership is completely disconnected from the people doing the real work. The return‑to‑office rollout has been a joke—some people were forced back while others with assigned desks and personal belongings still work from home with no issue.Redundancy is everywhere. Too many people doing the same job, and others doing nothing at all. Most employees are disengaged, doing the bare minimum, and just waiting for the next RIF because going above and beyond doesn’t matter anymore.

I’ve been with the company for over 20 years and have watched it slowly get worse over time. I believe this is a culture issue and culture starts at the top. There is no growth for most employees. I have applied for multiple internal opportunities with no success. In one instance, I was not hired for a specific group because I lacked experience for the niche market (totally understandable and I was not upset about it). I was asked by one of the interviewers to apply for a more generalized spot on his team because he said he was impressed with my skill set. Didn’t get that role either (which was surprising as I was requested to interview for it).

I do believe every place has its own set of issues, but I’ve yet to work in a company that seems to care so little for the employees while stating it cares so much. I’ve worked for 5 banks in my career and this has been the toughest experience by far. My viewpoint: Lack of communication and transparency from our leadership leads to a lack of trust. The people doing the actual work are ignored when issues are raised and solutions are offered. Questioning why we do things a certain way are ignored (or answered with “it’s what we have to do”). These things are a perfect storm for low morale and bad employee experience.

@w0 - this is why leadership does not do an engagement survey anymore

@rr - Ah yes, the Truist leadership playbook: if employees are unhappy, the employees must be the problem.

Low morale? Employee issue. Toxic culture? Employee issue. Constant complaints about leadership? Clearly thousands of employees all independently decided to be negative for no reason.

The favorite excuse seems to be, "They wouldn't be happy anywhere." That's certainly more convenient than asking why Truist's Glassdoor ratings are so low compared to every other major bank. If unhappy employees are supposedly the problem everywhere, then why do other banks consistently score better with their workforce?

Are Glassdoor reviews perfect? Of course not. But when the ratings are poor and the same complaints keep appearing over and over - leadership, culture, communication, trust; it becomes harder to pretend it's all just a few disgruntled employees.

The real irony is that the people dismissing employee feedback are often the same ones wondering why engagement is low and employees have little confidence in leadership.

Apparently the answer isn't fixing the culture. It's convincing yourself that everyone providing the feedback is the problem.

@rr Horrendous take. I was unhappy at TFC and am happy at another bank.
And I know many others with similar experiences.

20-year career at Truist and love my job. The people that complain, complain about everything. They are unhappy here and will be unhappy at another bank. It’s called work for a reason. Some days are great, some days su-k but you get through it one day at a time while making every day the best it can be.

@a4 because we continue to hire from Wells. We bring in at a senior level then they bring all their friends. We’re a mini Wells. It was bound to happen.

Board is obsessed with Copilot. Why should anyone put forth effort when it's going to be drowned out by slop. Like the AI recaps of the constant meetings.

Take a look at Wells Fargo on this site. That’s what Truist is turning into.