I am an employee and I can honestly say the situation is getting worse, not better. Everyone is afraid that the ax may hit their department at any time. I personally know of 2 people being let go after coming back from serious health problems. I say they are opening themselves up to lawsuits with the way they have been doing people.
When a Person is having Heart Problems and cannot work and then returns to work after being pestered to do so by management, then gets canned after returning, it tells me the priorities are all wrong. I see inept people being promoted, good people let go because of their salary and replaced by someone making less, and not qualified for the job. I see people that have not had a raise in 2 years. I see a company that cuts Per Diem money, demands that employees have a cell phone, and only pays a small portion of the bill.
Looks to me like they are getting ready to be bought out, looking to make the pig attractive by putting on a little makeup and perfume.
Just for info..companies getting positioned to sell don't start doing the dirty work toimprove efficiencies; they let the buyer do it and take the heat. The correct read on JAA's actions; doing what it takes to improve eps and the stock price which inturn makes the company harder to buy.
For consideration: Is most of the complaining showing up on the board coming from original (merged more than 5 years ago) employees or newly merged ones?
The longer term people I talk to aren't the ones complaining. Just an interesting thought.
Fan, You have it EXACTLY right. BB&T did not go through all of the time and effort to convene a task force to find $100 million plus in cost savings and revenue enhancements for the benefit of a potential buyer. It was done because it was needed!!! To all you BB&Ters who are griping because the bank eliminated your cell phone or reduced your reimbursement..get over it! The ones bitching the loudest are the ones who were abusing the policy the most. I know, I have seen it first-hand. As for the mileage reimbursement, $.31 is a FAIR rate for anyone driving an average vehicle even with gas at $1.90 a gallon. Do the math and you will see. If you find it necessary to leave the bank because of more restrictive cell phone and travel policies, then SEE YA! By the way, over 80% of the savings were from process changes and revenue enhancements. Less than 20% came from employee related expense controls. Fan does have it right...most of the complaining IS being done by newer employees NOT the longer-term staff. Quit complaining, do your job, and since you're reading this...check out the stock price you idiots. The market seems to like the expense control initiatives. Whew...I feel better now.
I'm guessing they are relatively new employees. Why you ask? Because there aren't many long-term employees. Only 1500 people at the bank have been there 10 plus years. Sounds like a low number to me. No matter what anyone tells you, turnover is ridiculous and doesn't look to be slowing down. Turnover on the commercial side is over 30%. There is even a task force studying the turnover. Here's why. Bad working environment and low pay. Why not go to a local community bank and receive a 20% raise and be treated like a person.
BB&T sucks... I used to work there. The people I worked with were great. They always wanted to do the best for the bank, try new ideas, etc... I couldn't understand that after being fee'd to death. After I left the bank, I had some cash sitting in a savings account and only after one month they tried to charge me a $1.25 non activity fee. That was enough of the BB&T BS for me!!! Good luck and wishes to the employees, but the bank will eventually go down because of that treatment of customers/employees.