Thread regarding Truist Bank layoffs

It is sad to me that those few directly behind the disaster of a merger (Kelly King, Rogers & Co., BoD, consultants) made so much money, while “innocent” employees, communities, and stockholders paid for the incompetence.

How ironic that job performance mattered to everyone except those who were actually making the decisions (and most of the money). I am still surprised stockholders just sat it out.

They had to sell the golden goose because they could not manage cash in a 0% int rate environment. Financial geniuses at trushit

@b3 Unless you got ripped off (sold it for way less than market value) -- market cap wouldn't be effected by selling off a business line... lol. Could literally buy back the stock with the proceeds of the sale.
But anyway if you're confusing market cap with total assets or some other related size metric.. those were also all well in decline PRIOR to the sale of Insurance. Can literally go compare PNC over the years as well. Other banks were growing while TFC was shrinking.

If you want real perspective of how bad a job Bill, Kelly and the BOD did since 2019 PNC market cap in December 2019 was 69 billion. Today it is 101 billion. How did a Board for 6 plus years allow this to happen? It is almost criminal that all these clowns stayed in power for all these years.

Or the fact that the bank has been buying back stock like crazy between 2019 and now.

Insurance being sold off possibly to account for the difference.