Truist Financial eliminated about 5% of its investment banking division amid uncertainty surrounding the deal-making environment, Gillian Tan and Max Reyes of Bloomberg report, citing people with knowledge with the matter. The job cuts were communicated in late January, a source told Bloomberg. Spokesman Kyle Tarrance commented, "Truist continues to assess and adjust the size of our workforce on an ongoing basis. We’re hiring in some areas and rightsizing in others through natural attrition and planned staffing reductions."
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on TFC:
- Truist Financial increases prime rate to 7.75%
- Truist Financial downgraded to Equal Weight at Stephens following outperformance
- Truist Financial downgraded to Equal Weight from Overweight at Stephens
- Truist declares common and preferred stock dividends
- Early notable gainers among liquid option names on January 19th
Questions or Comments about the article? Write to editor@tipranks.com