Truist Layoffs?
Does anyone have an update on the Truist Situation? I saw Litquidity posted that 71 bankers got fired but i'm wondering if anyone has more insight???
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It seemed to mostly be the lev fin and acquisition financing teams (juniors and seniors). I’ve heard rumblings of coverage cuts coming later this week or the next, but nothing official yet.
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Where's the post? Should be a thread here on it
There were lots of coverage cuts
There was an older thread on it. Essentially broad based cuts across all groups. Guess is somewhere in the 10% range.
I would certainly take notice for the balance sheet banks that have largely avoided layoffs. Truist just reported a solid quarter and still did this due to IB performance being a drag.
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Any clue where I can find this litquidity post?
Was on their IG story
heard they told entire nyc TMT team they have 7 days to start working in atlanta or they will be locked out
I saw that on another thread. Is that even true?
It’s true
7 days to decide
anyone got some more updates here?
Brutal. Some of these people probably won't have a choice being that no IB is hiring rn...
What exactly happened here? Were all juniors from the media group in NY given the option to move to the south or were some laid off?
Anyone have more color on yesterday’s layoffs? Did not hear about them in group I’m in.
There were layoffs yesterday ??
According to litquidity
Bump. Any more color here?
Bump
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