Truist cut jobs in core technology and operations following more recent pullbacks on tech at the institution.
“We recently notified technology teammates about certain roles that will be impacted by Truist’s strategic initiatives,” a Truist spokesperson told Bank Automation News.
The latest tech cuts follow these recent upheavals at Truist:
- Chief Information Officer Scott Case left the bank in April.
- Former CIO of Wholesale and Enterprise Function Bryce Elliott left in December. He is now head of payments technology at Chase.
- Former Chief Information and Experience Officer Ken Meyer left the bank in October. He now serves as CIO of enterprise functions technology at Wells Fargo.
- The bank’s skunkworks ventures Foundry unit closed in October 2023.
The bank is set to report second-quarter earnings July 22, according to its investor relations site.
Truist shares were trading up 1.6% at $43.13 at 2:20 p.m. ET Wednesday. Truist has a market capitalization of $57.7 billion.
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